This report, like the Government, is full of it. Why do they like to play with words so much? The Business Licence Fee has always been based on income, the question is whether it should be based on net or gross. Obviously gross is totally unfair to the business community. Do foreign owned/operated businesses pay the fee? Somehow I suspect not.
On the matter of VAT and Customs Duty, neither the PLP nor FNM government can decide why we really had to switch from the traditional customs duty to value added tax. They like to place blame on WTO, a draconian organization, many of whose larger members do not adhere to its regulations. Too bad there has been so much theft and corruption in the agencies responsible for collecting the customs duty, because, if the rates had been kept at a sensible level, and we ever had a government capable of monitoring and enforcing its collection, customs duty would have been a much better way to stay.
Don't forget, many of the BEC employees recently took "retirement" packages! They are all running around grinning like cats that just finished great dishes of cream!
"The Minnis administration is thought to be financing the Grand Lucayan purchase with a combination of debt and the $25m allocated in the 2018-2019 Budget to support the now-abandoned Wynn Group purchase.
The deal is structured so that the Government pays a $10m deposit, which it has done, and a further $20m upon closing. This is likely to be financed largely through the Budget, with the $35m balance split into semi-annual $5m payments spread over three-and-a-half years.
That portion will come from debt, with the funds likely to be extended by the Grand Lucayan's departing owner, Hutchison Whampoa, as a form of vendor financing. This was proposed a year earlier, when the Minnis administration first suggested it would take an equity stake in a purchase of the resort.
A mortgage, secured on the Grand Lucayan's real estate assets, will provide security for the loan or any form of debt financing. The Government guarantee is needed to provide assurance to the lender that its monies will be repaid."
The above from Tribune 12th September. Do we actually know how the purchase was financed?
Such stupid comments. The FNM chairman should be concerned that Bahamians are unhappy with The Bahamas Government. It's time to wake up and rebrew the coffee!
Full of bull! Why do we need companies or committees to "look at" what the management team should do as a matter of course - if there was a management team worth its salt and not just a bunch of worthless political appointees who don't know the difference between their derriere and a hole in the ground. there should be no vat on electrical bills, full stop.
DDK says...
This report, like the Government, is full of it. Why do they like to play with words so much? The Business Licence Fee has always been based on income, the question is whether it should be based on net or gross. Obviously gross is totally unfair to the business community. Do foreign owned/operated businesses pay the fee? Somehow I suspect not.
On the matter of VAT and Customs Duty, neither the PLP nor FNM government can decide why we really had to switch from the traditional customs duty to value added tax. They like to place blame on WTO, a draconian organization, many of whose larger members do not adhere to its regulations. Too bad there has been so much theft and corruption in the agencies responsible for collecting the customs duty, because, if the rates had been kept at a sensible level, and we ever had a government capable of monitoring and enforcing its collection, customs duty would have been a much better way to stay.
On Govt pledges no more VAT hikes before election
Posted 23 November 2018, 1:21 p.m. Suggest removal
DDK says...
Baboons and monkeys are known to be quite intelligent. You do them an injustice.
On Dormant accounts – they'll do nicely
Posted 23 November 2018, 12:37 p.m. Suggest removal
DDK says...
The "We March" organizer is sitting in the Senate lol! Say 'e marching days are over!
On PM: People should be allowed to protest
Posted 23 November 2018, 11:01 a.m. Suggest removal
DDK says...
Don't forget, many of the BEC employees recently took "retirement" packages! They are all running around grinning like cats that just finished great dishes of cream!
On Company lined up to probe rising electricity prices, says PM Minnis
Posted 23 November 2018, 10:41 a.m. Suggest removal
DDK says...
"The Minnis administration is thought to be financing the Grand Lucayan purchase with a combination of debt and the $25m allocated in the 2018-2019 Budget to support the now-abandoned Wynn Group purchase.
The deal is structured so that the Government pays a $10m deposit, which it has done, and a further $20m upon closing. This is likely to be financed largely through the Budget, with the $35m balance split into semi-annual $5m payments spread over three-and-a-half years.
That portion will come from debt, with the funds likely to be extended by the Grand Lucayan's departing owner, Hutchison Whampoa, as a form of vendor financing. This was proposed a year earlier, when the Minnis administration first suggested it would take an equity stake in a purchase of the resort.
A mortgage, secured on the Grand Lucayan's real estate assets, will provide security for the loan or any form of debt financing. The Government guarantee is needed to provide assurance to the lender that its monies will be repaid."
The above from Tribune 12th September. Do we actually know how the purchase was financed?
On Deficit overshoots DPM’s final prediction by $105m
Posted 23 November 2018, 10:25 a.m. Suggest removal
DDK says...
Such stupid comments. The FNM chairman should be concerned that Bahamians are unhappy with The Bahamas Government. It's time to wake up and rebrew the coffee!
On ‘March a total failure - just like PLP’
Posted 23 November 2018, 9:09 a.m. Suggest removal
DDK says...
Right on!
On ‘March a total failure - just like PLP’
Posted 23 November 2018, 9:07 a.m. Suggest removal
DDK says...
Full of bull! Why do we need companies or committees to "look at" what the management team should do as a matter of course - if there was a management team worth its salt and not just a bunch of worthless political appointees who don't know the difference between their derriere and a hole in the ground.
there should be no vat on electrical bills, full stop.
On Company lined up to probe rising electricity prices, says PM Minnis
Posted 22 November 2018, 3:51 p.m. Suggest removal
DDK says...
It is a big part of the problem, but so is greed and corruption.........
On PM: People should be allowed to protest
Posted 22 November 2018, 3:49 p.m. Suggest removal
DDK says...
Of course they are, they are addicted to VAT like the Bahamian public are addicted to the numbers houses which prey on the oppressed and desperate.
On Govt pledges no more VAT hikes before election
Posted 22 November 2018, 2:38 p.m. Suggest removal