While vital within the context of the Government’s fiscal strategy, a revenue to GDP revenue ratio of 25 per cent is not unreasonable in and of itself or when viewed internationally. Within the advanced G7 nations, the revenue ratio amounts to some 36 per cent; in the Euro area it averages roughly 46 per cent. Latin American and Caribbean countries post an average ratio of 27 per cent with regional rates of 30-31 per cent in Jamaica, Barbados and Belize.
I always say we want and expect first world services but only want and expect to pay third world taxes. Reality is that we are under taxed. The % of government revenue as a % of GDP is low even compared to other Caribbean economies much less first world economies. With all the corruption and inefficiencies in the public sector, govt revenue is woefully inadequate to provide the level of services we desire, hence our never ending budget deficits. We need an increase in govt revenues (taxes) that fall more on the rich ( very hard to do) and of a less regressive nature than we currently have. At the same time we need to downsize the public sector, get rid of or reduce subsidies to public corporations and then demand increased productivity from our reduced civil service, along with a zero tolerance of corruption.
I agree, this is very good and will lead to a fairer tax regime. Some companies now ( like grocery stores and gas stations) that have high turnover but low profit margins pay a huge percentage of their profits in business license fees. In some instances they pay more in business license fees than the company earns in net income.
Yeah right. Wake up. Atlantis made its fervent opposition to this project clear, you really think any employee would feel comfortable publicly supporting this project? More likely would be as it appears they felt allegedly intimidated and coerced to toe the company line and speak out against RCL. Government needs to ignore all these special interests against this project and if it passes environmental mustard and is in the economic interest of the Bahamian people approve it post haste.
I agree, he had no problem with tearing up acres of our precious Bahamian seabed around Bell island when BNT was allegedly given a million dollar donation by the Aga Khan, and how much is he being paid by Atlantis now? Can’t trust a word he says.
Gowon Bowe opines about everything under the sun but can not utter a single word about the promised share split? What is going on with Fidelity? At the AGM he told shareholders the split would take place no later than September of last year. Ducking this issue is not acceptable to shareholders, we expect better leadership and deserve an explanation.
DonAnthony says...
Where is Adrian Gibson?
On Pintard says budget fails to address significant issues, including NIB
Posted 1 June 2023, 1:47 p.m. Suggest removal
DonAnthony says...
Not theoretical, it’s fact, reality.
On 'We’re 20 years late on corporate income tax, so we’re catching up' says expert
Posted 21 May 2023, 5:34 p.m. Suggest removal
DonAnthony says...
In 2021/2021 Bahamas govt revenue as % of GDP was just 20.2%!
On 'We’re 20 years late on corporate income tax, so we’re catching up' says expert
Posted 21 May 2023, 2:29 p.m. Suggest removal
DonAnthony says...
We are unquestionably undertaxed. Read Bahamas!
https://www.bahamasbudget.gov.bs/media/…
While vital within the context of the Government’s fiscal strategy, a revenue to GDP revenue ratio of 25 per cent is not unreasonable in and of itself or when viewed internationally. Within the advanced G7 nations, the revenue ratio amounts to some 36 per cent; in the Euro area it averages roughly 46 per cent. Latin American and Caribbean countries post an average ratio of 27 per cent with regional rates of 30-31 per cent in Jamaica, Barbados and Belize.
On 'We’re 20 years late on corporate income tax, so we’re catching up' says expert
Posted 21 May 2023, 2:25 p.m. Suggest removal
DonAnthony says...
I always say we want and expect first world services but only want and expect to pay third world taxes. Reality is that we are under taxed. The % of government revenue as a % of GDP is low even compared to other Caribbean economies much less first world economies. With all the corruption and inefficiencies in the public sector, govt revenue is woefully inadequate to provide the level of services we desire, hence our never ending budget deficits. We need an increase in govt revenues (taxes) that fall more on the rich ( very hard to do) and of a less regressive nature than we currently have. At the same time we need to downsize the public sector, get rid of or reduce subsidies to public corporations and then demand increased productivity from our reduced civil service, along with a zero tolerance of corruption.
On 'We’re 20 years late on corporate income tax, so we’re catching up' says expert
Posted 21 May 2023, 11:46 a.m. Suggest removal
DonAnthony says...
I agree, this is very good and will lead to a fairer tax regime. Some companies now ( like grocery stores and gas stations) that have high turnover but low profit margins pay a huge percentage of their profits in business license fees. In some instances they pay more in business license fees than the company earns in net income.
On CORPORATE TAX PLAN REVEALED: Govt favours proposal of 10-12 percent rate for most businesses
Posted 19 May 2023, 9:54 a.m. Suggest removal
DonAnthony says...
Yeah right. Wake up. Atlantis made its fervent opposition to this project clear, you really think any employee would feel comfortable publicly supporting this project? More likely would be as it appears they felt allegedly intimidated and coerced to toe the company line and speak out against RCL. Government needs to ignore all these special interests against this project and if it passes environmental mustard and is in the economic interest of the Bahamian people approve it post haste.
On Atlantis queried on employee complaints
Posted 11 May 2023, 11:41 a.m. Suggest removal
DonAnthony says...
I agree, he had no problem with tearing up acres of our precious Bahamian seabed around Bell island when BNT was allegedly given a million dollar donation by the Aga Khan, and how much is he being paid by Atlantis now? Can’t trust a word he says.
On Fears that Royal Caribbean 'setting tone' on PI project
Posted 10 May 2023, 5:55 p.m. Suggest removal
DonAnthony says...
Thank you to the tribune for finally having this long overdue issue addressed.
On Fidelity targets $5 with stock split by end-July
Posted 9 May 2023, 3:20 p.m. Suggest removal
DonAnthony says...
Gowon Bowe opines about everything under the sun but can not utter a single word about the promised share split? What is going on with Fidelity? At the AGM he told shareholders the split would take place no later than September of last year. Ducking this issue is not acceptable to shareholders, we expect better leadership and deserve an explanation.
On 'Real life consequences': Fidelity's $560k Moody's hit
Posted 5 May 2023, 10:23 a.m. Suggest removal