***“We have no VAT now, and the minute we have it, merchants will pay it when we import products. It may be six months before we sell that merchandise, but the Government collects its money right away. They have millions and millions of cash flow, and I might not even sell it after six months if it becomes spoiled or someone steals it.”***
But isn't this the same as paying duty? You pay on import and you may not sell the item for months?
Oh, I see now. We do not need new taxes, we simply need the current taxes to be paid. Well, if past history is any indication that will not happen. They can add and add and add, and no one will pay, pay, or pay.
According to an article in this paper "The IMF estimates that the Government, in recent times, only collects about 25 per cent of the taxes it is legally owed. This was true for both the FNM and PLP administrations, so this is not a party issue. This is a Bahamian issue that cuts across parties and politics.”
No one pays property taxes. No one pays for electricity. No one pays their bills.
Until people realize that they need to meet their obligations this country is doomed
I do not understand. The business license "period" is April 1 - March 31 each year. You need to submit your documents by March 31 each year to get your new license for that year. For example this year I will pay for the license from April 1, 2014 to March 31, 2015.
The business license form asks for your companies previous years turnover and you pay based on that. If my year end is in October and I use the 12 months ending October what does it matter. I am paying the license fee for April 1 - March 31. The companies year end has nothing to do with it.
Secondly, asking companies to submit the information by March 31 is ridiculous. How can a company get all of the required information in that time frame. Getting accountants to sign off being one of the most difficult parts of the puzzle.
Cornel says...
***“This is actually a Grand Bahama Island revitalization,” said Betty Bethel***
Betty, it's the 50th or 100th Grand Bahama revitalization. How long will this hotel last?
On Memories resort to officially open
Posted 24 March 2014, 2:21 p.m. Suggest removal
Cornel says...
They have no choice - Water & Sewerage can not supply enough water and BEC can not supply enough electricity.
On Baha Mar pledge over renewable energy plan
Posted 21 March 2014, 4:30 p.m. Suggest removal
Cornel says...
***“We have no VAT now, and the minute we have it, merchants will pay it when we import products. It may be six months before we sell that merchandise, but the Government collects its money right away. They have millions and millions of cash flow, and I might not even sell it after six months if it becomes spoiled or someone steals it.”***
But isn't this the same as paying duty? You pay on import and you may not sell the item for months?
On 'We don't want V.A.T., even at 1/100 of 1%'
Posted 20 March 2014, 4:44 p.m. Suggest removal
Cornel says...
Oh, I see now. We do not need new taxes, we simply need the current taxes to be paid. Well, if past history is any indication that will not happen. They can add and add and add, and no one will pay, pay, or pay.
On Eliminate VAT need via 70-80% tax compliance
Posted 17 March 2014, 4:32 p.m. Suggest removal
Cornel says...
I agree with Grassroot - We need Leading Businessmen to spearhead the campaign. Lets look over the list and pick a few
On Push for talks on reparations
Posted 12 March 2014, 2:07 p.m. Suggest removal
Cornel says...
I would like to see a list of all the ***"leading businessmen"***. Who is on this list and what did they do to get on it ?????
Can I get on it? I would love to be able to spew my BS in the newspaper just like them.
On Web shop legalisation 'alters economic order'
Posted 10 March 2014, 4:51 p.m. Suggest removal
Cornel says...
Mexican group. . . ? A good source of kickbacks. Will probably use the casino to launder drug money
On Mexicans group front runner for GB casino
Posted 1 March 2014, 8 a.m. Suggest removal
Cornel says...
Here we go again . . . $125M outstanding to BEC.
According to an article in this paper "The IMF estimates that the Government, in recent times, only collects about 25 per cent of the taxes it is legally owed. This was true for both the FNM and PLP administrations, so this is not a party issue. This is a Bahamian issue that cuts across parties and politics.”
No one pays property taxes. No one pays for electricity. No one pays their bills.
Until people realize that they need to meet their obligations this country is doomed
On BEC's $125m receivables give 'serious trouble'
Posted 28 February 2014, 10 a.m. Suggest removal
Cornel says...
Only one comment. Do the unthinkable! Pay your bills
On '10,000 Bahamians living in darkness in Grand Bahama'
Posted 28 February 2014, 9:45 a.m. Suggest removal
Cornel says...
I do not understand. The business license "period" is April 1 - March 31 each year. You need to submit your documents by March 31 each year to get your new license for that year. For example this year I will pay for the license from April 1, 2014 to March 31, 2015.
The business license form asks for your companies previous years turnover and you pay based on that. If my year end is in October and I use the 12 months ending October what does it matter. I am paying the license fee for April 1 - March 31. The companies year end has nothing to do with it.
Secondly, asking companies to submit the information by March 31 is ridiculous. How can a company get all of the required information in that time frame. Getting accountants to sign off being one of the most difficult parts of the puzzle.
On 'Double whammy' from business Licence changes
Posted 25 February 2014, 8:03 a.m. Suggest removal