Tinkering too much with the VAT is a BAD thing. Most of the smaller stores have quite simply started to use the sales tax feature in their cash registers that default 7.5% on the total bill, they are not all fancy and computerized and able to break out that 10 out of the 30 items in that persons shopping basket are VAT exempt. You'll need to run the register twice, once for the VAT stuff, and once for the VAT exempt stuff. Then you open up a can of worms back in the VAT Audit office, when all of a sudden, your total sales don't reflect your true potential VAT input, which right now is a clean ratio and within maybe a fraction of a percent either way, should be pretty easy to calculate. Start putting exemptions in there and that magic ratio you need to look for goes out the window and it's guess work after that, start asking for audits, and you are going through every dang cash register ticker tape trying to figure out what was exempt and what wasn't. it's simple as it stands just now, don't over complicate it!!
100% bull crap...sad also to see that on the eve of the election, they are just now giving into adding benefits and demands from unionized government employees...let's win that vote with what essentially comes down to bribes at this stage in the game.
Technically yes...if you build your dock on crown land/seafloor it's taxable...it all comes down to the interpretation of crown land vs private property. Canals that were dug through solid ground that is private property remain private property. Developments that were formed around existing waterways or marshlands that were once crown land in that sense, those are taxable.
I pay almost as much in real property tax each year (and yes, sadly, I do pay it), but just shy of what a minimum wage employees take home pay would be each year...It's not so much the 'fee' the fee is minimal. Even if you have a 100 foot dock, which is BIG dock for a private residence, that is only $200 a year, it's minor, but it comes down to the interpretation of the law and legal precedents that have been set and in place for years. Now they think they can re-interpret the way the law reads to suit their needs. It will need to be decided in the courts, AGAIN, since this has been decided many times in the past, but they will ignore that fact.
B_I_D___ says...
Victim and his brother are both on RBPF wanted posters for murder enquiries...
On Man found shot dead in downtown Nassau
Posted 20 April 2017, 12:16 p.m. Suggest removal
B_I_D___ says...
Where's Birdie!!
On TRIBUNE EXCLUSIVE: Fitzgerald sought millions from Baha Mar
Posted 20 April 2017, 11:27 a.m. Suggest removal
B_I_D___ says...
message from the banks will be...no loans to GOVT employees...quite simple...
On PLP proposes interest rate cap on loans for government workers
Posted 13 April 2017, 2:54 p.m. Suggest removal
B_I_D___ says...
Tinkering too much with the VAT is a BAD thing. Most of the smaller stores have quite simply started to use the sales tax feature in their cash registers that default 7.5% on the total bill, they are not all fancy and computerized and able to break out that 10 out of the 30 items in that persons shopping basket are VAT exempt. You'll need to run the register twice, once for the VAT stuff, and once for the VAT exempt stuff. Then you open up a can of worms back in the VAT Audit office, when all of a sudden, your total sales don't reflect your true potential VAT input, which right now is a clean ratio and within maybe a fraction of a percent either way, should be pretty easy to calculate. Start putting exemptions in there and that magic ratio you need to look for goes out the window and it's guess work after that, start asking for audits, and you are going through every dang cash register ticker tape trying to figure out what was exempt and what wasn't. it's simple as it stands just now, don't over complicate it!!
On Minnis reveals tax break plans
Posted 7 April 2017, 3:19 p.m. Suggest removal
B_I_D___ says...
It was no thanks to the DNA that the PLP won the last election...
On McCartney says PLP notorious for trying to ‘steal elections’
Posted 7 April 2017, 11:05 a.m. Suggest removal
B_I_D___ says...
100% bull crap...sad also to see that on the eve of the election, they are just now giving into adding benefits and demands from unionized government employees...let's win that vote with what essentially comes down to bribes at this stage in the game.
On Gibson denies last-minute labour laws are a political manoeuvre
Posted 5 April 2017, 7:31 p.m. Suggest removal
B_I_D___ says...
Technically yes...if you build your dock on crown land/seafloor it's taxable...it all comes down to the interpretation of crown land vs private property. Canals that were dug through solid ground that is private property remain private property. Developments that were formed around existing waterways or marshlands that were once crown land in that sense, those are taxable.
On ‘Dock tax’ crackdown on gated communities
Posted 5 April 2017, 9:15 a.m. Suggest removal
B_I_D___ says...
I pay almost as much in real property tax each year (and yes, sadly, I do pay it), but just shy of what a minimum wage employees take home pay would be each year...It's not so much the 'fee' the fee is minimal. Even if you have a 100 foot dock, which is BIG dock for a private residence, that is only $200 a year, it's minor, but it comes down to the interpretation of the law and legal precedents that have been set and in place for years. Now they think they can re-interpret the way the law reads to suit their needs. It will need to be decided in the courts, AGAIN, since this has been decided many times in the past, but they will ignore that fact.
On ‘Dock tax’ crackdown on gated communities
Posted 5 April 2017, 9:10 a.m. Suggest removal
B_I_D___ says...
I'm a Bahamian living behind one of those gated communities with one of those controversial docks...so explain that one away...
On ‘Dock tax’ crackdown on gated communities
Posted 5 April 2017, 7:46 a.m. Suggest removal
B_I_D___ says...
He'll have more than a sprained ankle by the time they finish working on him...
On UPDATED: Omar Archer denied bail in criminal libel case
Posted 4 April 2017, 1:19 p.m. Suggest removal