And as long as the National Debt continues to climb, the government will have to come hunting for more taxes. And as more taxes are collected the lower the standard of living will become and the more businesses will fail. So either government has to break the cycle or the cycle will break them.
When VAT was introduced businesses requested that their pricing remain the same and the VAT be added only at the cash register. Many believed that there would be increases in the VAT like there will be on July 1. But government insisted that the regular price, the VAT And the total price be shown on each item. Businesses spent hundreds of man hours adjusting prices and even purchasing pricing equipment that can print the required label format. Now they must, as required by law, go and adjust price to reflect the new vat prices. Food stores, like Super Value applied for and got permission to show only the first price on their products provided they have labels on the shelves that show the vat as well as the total price. So for them they will only have to adjust the tax rate on their pos system.
The elimination of taxes on clothing and shoes for local stores is an excellent move. These are items persons shop online for most frequently as well as when they travel abroad. Also many travelers bring back items to sell from their homes, cars or on the side of the streets. Giving them an advantage over stores. This move will allow the stores to be more competitive and have their prices even closer to Miami prices too.
Notice despite the token reductions the budget is targeted to hit the poor working class the most and to destroy successful businesses. Four Hundred percent increases in police records. Something persons may need two or three times a year. And the vehicle regisocheck to $50. No increases in the tourism or foreign areas except tax on non developed land. Bahamians continue to subsidize foreign tourists visiting the Bahamas.
When Marlon Johnson was with BTC he closed down and wiped out several hundred businesses by running ads saying the phones these stores sell will not work on BTC’s network. Then he reduced the commission paid to Bahamians phone card seller from 25% to 5 % causing thousands to stop selling them. And those who still sell BTC and Aliv Top Up do so at a loss. So when he came back to work in the Ministry of Finance nothing comes as a surprise.
We don't want to tax the foreign investors, we don't want to adequately tax the foreign visitors and gamblers, but we want to sock it (taxes) to Bahamians. Then we pretend to be shocked when they burden Bahamians down with additional taxes. and there is a budget deficit or additional borrowing is necessary..kml The Sebas/Island Luck train may be one that may soon wreck or run out of steam. #cashflow.
When VAT was introduced, the intent was to eliminate customs duties and stamp taxes. The scary thing is even with those taxes still being collected in addition to VAT, there is a need to introduce VAT by 66%. And when one looks at the infrastructure of the country, everything is falling apart. Drive down East Street of Mackey Street and you wonder, "Is this what we want to attract tourist to?" And almost every street in Nassau Village and Pinewood and many other residential areas and loaded with potholes. And there was additional borrowing in addition to the VAT increase. The Bible says man will work a week just to buy bread and those days are upon us in this Bahamas. Tanks bredda Minnis..Tanks K P T. tanks!
Marvin Dames is the first elected member of the Minnis FNM Government that will never see elected office in this country again! Did I say never? How can you allow your policeman to pump eighteen holes in an innocent (until proven guilty) human being, citizen of The Bahamas and say it is Business as usual? And as long as Hubert Minnis remains silent on the issue, his time with the people is dwindling. AWAY! Is it the people’s time to be slaughtered.? And yes they have The Tribunes page hacked but somebody has to stand for something else we all die for nothing.
One day y’all will get it Hubert Minnis is the prime minister but he doesn’t run The Bahamas. Just like Barak Obama was president, he didn’t run the United States. One step outta line and he would be dead like the young boy Marvin Dames policeman put 18 holes in on a blessed Sunday, go to Church morning.
John says...
And as long as the National Debt continues to climb, the government will have to come hunting for more taxes. And as more taxes are collected the lower the standard of living will become and the more businesses will fail. So either government has to break the cycle or the cycle will break them.
On Ouch! Peter turns the screw on VAT
Posted 31 May 2018, 10:51 a.m. Suggest removal
John says...
When VAT was introduced businesses requested that their pricing remain the same and the VAT be added only at the cash register. Many believed that there would be increases in the VAT like there will be on July 1. But government insisted that the regular price, the VAT And the total price be shown on each item. Businesses spent hundreds of man hours adjusting prices and even purchasing pricing equipment that can print the required label format. Now they must, as required by law, go and adjust price to reflect the new vat prices. Food stores, like Super Value applied for and got permission to show only the first price on their products provided they have labels on the shelves that show the vat as well as the total price. So for them they will only have to adjust the tax rate on their pos system.
On Ouch! Peter turns the screw on VAT
Posted 31 May 2018, 10:40 a.m. Suggest removal
John says...
The elimination of taxes on clothing and shoes for local stores is an excellent move. These are items persons shop online for most frequently as well as when they travel abroad. Also many travelers bring back items to sell from their homes, cars or on the side of the streets. Giving them an advantage over stores. This move will allow the stores to be more competitive and have their prices even closer to Miami prices too.
On Ouch! Peter turns the screw on VAT
Posted 31 May 2018, 9:54 a.m. Suggest removal
John says...
Notice despite the token reductions the budget is targeted to hit the poor working class the most and to destroy successful businesses. Four Hundred percent increases in police records. Something persons may need two or three times a year. And the vehicle regisocheck to $50. No increases in the tourism or foreign areas except tax on non developed land. Bahamians continue to subsidize foreign tourists visiting the Bahamas.
On Ouch! Peter turns the screw on VAT
Posted 31 May 2018, 9:49 a.m. Suggest removal
John says...
When Marlon Johnson was with BTC he closed down and wiped out several hundred businesses by running ads saying the phones these stores sell will not work on BTC’s network. Then he reduced the commission paid to Bahamians phone card seller from 25% to 5 % causing thousands to stop selling them. And those who still sell BTC and Aliv Top Up do so at a loss. So when he came back to work in the Ministry of Finance nothing comes as a surprise.
On Business warns Gov't off Budget 'bail out'
Posted 31 May 2018, 7:51 a.m. Suggest removal
John says...
And yet I rise
On Mitchell: Henfield should resign if he votes against Interception of Communication Bill
Posted 31 May 2018, 7:40 a.m. Suggest removal
John says...
We don't want to tax the foreign investors, we don't want to adequately tax the foreign visitors and gamblers, but we want to sock it (taxes) to Bahamians. Then we pretend to be shocked when they burden Bahamians down with additional taxes. and there is a budget deficit or additional borrowing is necessary..kml The Sebas/Island Luck train may be one that may soon wreck or run out of steam. #cashflow.
On Web shops blast 'disparaging' call for tax increases
Posted 30 May 2018, 7:23 p.m. Suggest removal
John says...
When VAT was introduced, the intent was to eliminate customs duties and stamp taxes. The scary thing is even with those taxes still being collected in addition to VAT, there is a need to introduce VAT by 66%. And when one looks at the infrastructure of the country, everything is falling apart. Drive down East Street of Mackey Street and you wonder, "Is this what we want to attract tourist to?" And almost every street in Nassau Village and Pinewood and many other residential areas and loaded with potholes. And there was additional borrowing in addition to the VAT increase. The Bible says man will work a week just to buy bread and those days are upon us in this Bahamas. Tanks bredda Minnis..Tanks K P T. tanks!
On BUDGET: VAT to rise from 7.5 percent to 12 percent
Posted 30 May 2018, 7:16 p.m. Suggest removal
John says...
Marvin Dames is the first elected member of the Minnis FNM Government that will never see elected office in this country again! Did I say never? How can you allow your policeman to pump eighteen holes in an innocent (until proven guilty) human being, citizen of The Bahamas and say it is Business as usual? And as long as Hubert Minnis remains silent on the issue, his time with the people is dwindling. AWAY! Is it the people’s time to be slaughtered.? And yes they have The Tribunes page hacked but somebody has to stand for something else we all die for nothing.
On ‘GIVE US ANSWERS’ – Witness says Evans was NOT robber in raid which led to police shooting
Posted 30 May 2018, 2:42 p.m. Suggest removal
John says...
One day y’all will get it Hubert Minnis is the prime minister but he doesn’t run The Bahamas. Just like Barak Obama was president, he didn’t run the United States. One step outta line and he would be dead like the young boy Marvin Dames policeman put 18 holes in on a blessed Sunday, go to Church morning.
On BUDGET: VAT to rise from 7.5 percent to 12 percent
Posted 30 May 2018, 2:32 p.m. Suggest removal