Well a max of $24 once the rate goes up, but thats the most it can be. Still better then nothing. Unfortunate for most of the year it will be nothing for me.
Government needs to make the Webshops publish their audited Financials, then we can see what is really happening. Whilst i don't really believe the Government would do anything if it went underground it was a silly threat to make, as it seems more like a mafia move (your place won't be broken up if you pay what i say). In reality i doubt the webshops would go underground as they are now legal. By going underground they run the risk of one day a government dealing with them.
Nothing will change until there is a crash that kills. Then everyone will cry and say what could we have done, even though they have been told for years to stop this lunatic driving. To be honest i am not even sure a deadly car crash will change this
If the webshops would just show their financial statements showing how profitable they are or are not then we can make an informed decision. Apparently they make $47 million in profit a year (per the above), seems quite a good profit to me. Looking at AML they made almost $7 million in 2016 (per their online audited report) and are the 2nd largest food store (i think). That $47 million divided equally among the 8 webshops is $5.875 million, but at a guess the smallest makes considerably less , so the largest makes more then AML. AS such i reckon they make good enough money to stay in operation. Will jobs be lost, most probably, will it be 2,000 no (well not yet, it will increase as more people gamble online so the physical buildings are not needed). If it is 2,000 they will be cutting their nose off to spite their face as customers will have no where to gamble.
Or a better idea is make sure those who do drive in these parades follow the law, know how to drive, make sure they don't drink, get out the vehicle etc etc. But no we shall do the normal knee jerk reaction (well actually we shall say we will, whilst in 10 years nothing will have changed).
According the the article by James Smith they can already take the homes of people who don't pay real property, however as usual those who don't pay are rewarded by the system and they just make it harder on the ones that do pay.
Fairly sure the webshops are throwing everything they can in the hope Government backs down. They have no intention of going to court as they know a government can do as it pleases on tax once the laws are passed. We shall see if Government backs down on these or not (same as the 12% VAT rate). I would like the webshops to release their audited figures so we could all work out whether this increase is justified or not.
At least the income tax is fairer to those that can afford it. As to all others why not a mix of them? If the civil service is overstaffed then reduce it. The private sector should not be forced to downsize due to these tax increases so that the Civil service can be OK. On real property, you don't even need to increase it, just collect what is owed.
Perhaps change the law so if you don't pay your real property tax the Government can take your house. Then enforce that. Might not get you the whole $400 million but if you got half of it then you would only have to increase VAT to 10%. Or get rid of all the loss making state entities where there are already other private sector operators in the business (Bahamasair). Also make the civil service fund at least some of their pension liabilities. Oh and reduce MP's and Prime Ministers Pension to 10% of what it is,.
Dawes says...
Well a max of $24 once the rate goes up, but thats the most it can be. Still better then nothing. Unfortunate for most of the year it will be nothing for me.
On Electric bill exemption on VAT is raised to $200
Posted 8 June 2018, 10:30 a.m. Suggest removal
Dawes says...
Government needs to make the Webshops publish their audited Financials, then we can see what is really happening. Whilst i don't really believe the Government would do anything if it went underground it was a silly threat to make, as it seems more like a mafia move (your place won't be broken up if you pay what i say). In reality i doubt the webshops would go underground as they are now legal. By going underground they run the risk of one day a government dealing with them.
On ‘We’ll tackle any illegal web shops’
Posted 8 June 2018, 10:26 a.m. Suggest removal
Dawes says...
So you want them to also change the law to say Bahamians can gamble in casinos and Tourists in webshops then?
On ‘We’ll tackle any illegal web shops’
Posted 8 June 2018, 10:22 a.m. Suggest removal
Dawes says...
Nothing will change until there is a crash that kills. Then everyone will cry and say what could we have done, even though they have been told for years to stop this lunatic driving. To be honest i am not even sure a deadly car crash will change this
On Police car in collision with vehicle at foot of bridge
Posted 7 June 2018, 4:54 p.m. Suggest removal
Dawes says...
If the webshops would just show their financial statements showing how profitable they are or are not then we can make an informed decision. Apparently they make $47 million in profit a year (per the above), seems quite a good profit to me. Looking at AML they made almost $7 million in 2016 (per their online audited report) and are the 2nd largest food store (i think). That $47 million divided equally among the 8 webshops is $5.875 million, but at a guess the smallest makes considerably less , so the largest makes more then AML. AS such i reckon they make good enough money to stay in operation. Will jobs be lost, most probably, will it be 2,000 no (well not yet, it will increase as more people gamble online so the physical buildings are not needed). If it is 2,000 they will be cutting their nose off to spite their face as customers will have no where to gamble.
On Web shop industry: 2,000 jobs will be lost due to tax hikes
Posted 7 June 2018, 10:02 a.m. Suggest removal
Dawes says...
Or a better idea is make sure those who do drive in these parades follow the law, know how to drive, make sure they don't drink, get out the vehicle etc etc. But no we shall do the normal knee jerk reaction (well actually we shall say we will, whilst in 10 years nothing will have changed).
On Trucks may be banned from future parades
Posted 7 June 2018, 9:50 a.m. Suggest removal
Dawes says...
According the the article by James Smith they can already take the homes of people who don't pay real property, however as usual those who don't pay are rewarded by the system and they just make it harder on the ones that do pay.
On DPM says 'open to all' 12% VAT alternatives
Posted 5 June 2018, 1:25 p.m. Suggest removal
Dawes says...
Fairly sure the webshops are throwing everything they can in the hope Government backs down. They have no intention of going to court as they know a government can do as it pleases on tax once the laws are passed. We shall see if Government backs down on these or not (same as the 12% VAT rate). I would like the webshops to release their audited figures so we could all work out whether this increase is justified or not.
On Web shops: Tax rises attempt to seize industry
Posted 5 June 2018, 9:58 a.m. Suggest removal
Dawes says...
At least the income tax is fairer to those that can afford it. As to all others why not a mix of them? If the civil service is overstaffed then reduce it. The private sector should not be forced to downsize due to these tax increases so that the Civil service can be OK. On real property, you don't even need to increase it, just collect what is owed.
On DPM says 'open to all' 12% VAT alternatives
Posted 4 June 2018, 3:58 p.m. Suggest removal
Dawes says...
Perhaps change the law so if you don't pay your real property tax the Government can take your house. Then enforce that. Might not get you the whole $400 million but if you got half of it then you would only have to increase VAT to 10%. Or get rid of all the loss making state entities where there are already other private sector operators in the business (Bahamasair). Also make the civil service fund at least some of their pension liabilities. Oh and reduce MP's and Prime Ministers Pension to 10% of what it is,.
On DPM says 'open to all' 12% VAT alternatives
Posted 4 June 2018, 2:51 p.m. Suggest removal