Yup, I remember those days too. Jumping off the old bridge going over the canal, sitting up on the hill next to the Grand Hotel, Holiday Inn beach, that old beat up looking Ocean Club beach bar. Those were the good old days! It won't be long before the whole of PI is gonna have a huge private property sign right by the bridge.
Why am I not surprised that our government is clueless once again. Instead of raising the minimum, mandate a minimum ‘in country’ period every year. If you want residency then you have to spend at least 4, 5 or 6 months a year in the country. Raising the minimum investment to $1 million does nothing except give more commissions to real estate companies and add a bit to property tax revenue. Having people spend time in our country means they eat, shop, restaurants, use water & electricity, etc, etc, etc. That’s where the money is.
However you slice this, taxes are just a fact of life. However, paying taxes should always come with two things: 1. They need to be fair up and down society. 2. You need to get something back (services, infrastructure, etc...) for paying taxes. To beat an already dead horse, what did we get back from the introduction of VAT? Nothing.
I can already see the OECD preparing another list with us on it. That thought aside, our financial sector was destroyed by Hubert and Francis a long time ago. As for company incorporation, those fees are a drop in the bucket compared to other government income sources. Anyone who seriously thinks having a 15% income tax on IBCs will impact anything around here is just plain wrong. If we declare just ONE DAY a year as a No Government Tiefing Day, our country would save/make more money in that one day alone than all company yearly incorporation fees combined.
KapunkleUp says...
True dat.
On EDITORIAL: If The Bahamas could rub a genie's lamp . . .
Posted 19 June 2021, 6:01 p.m. Suggest removal
KapunkleUp says...
Typically stupid knee jerk idea by Chicken Davis. Pass laws that provide an easement for right of passage right from the start.
On PLP Leader: Govt should acquire land in beach row
Posted 19 June 2021, 11:46 a.m. Suggest removal
KapunkleUp says...
Three wishes rolled into one: (1) Honest, (2) smart, (3) caring politicians!
On EDITORIAL: If The Bahamas could rub a genie's lamp . . .
Posted 19 June 2021, 11:43 a.m. Suggest removal
KapunkleUp says...
Yup, I remember those days too. Jumping off the old bridge going over the canal, sitting up on the hill next to the Grand Hotel, Holiday Inn beach, that old beat up looking Ocean Club beach bar. Those were the good old days! It won't be long before the whole of PI is gonna have a huge private property sign right by the bridge.
On Beach vendors’ fury as owners move to close off their access
Posted 17 June 2021, 11:04 p.m. Suggest removal
KapunkleUp says...
Why am I not surprised that our government is clueless once again. Instead of raising the minimum, mandate a minimum ‘in country’ period every year. If you want residency then you have to spend at least 4, 5 or 6 months a year in the country. Raising the minimum investment to $1 million does nothing except give more commissions to real estate companies and add a bit to property tax revenue. Having people spend time in our country means they eat, shop, restaurants, use water & electricity, etc, etc, etc. That’s where the money is.
On Govt mulling $1m investment floor for permanent residency
Posted 16 June 2021, 10:12 a.m. Suggest removal
KapunkleUp says...
You realize that is possibly a sign of the coming apocalypse.
On GROCERY BILL SET TO SOAR: Supermarket boss warns families face 8-10% price hikes
Posted 15 June 2021, 9:56 a.m. Suggest removal
KapunkleUp says...
Anyone got any suggestions on where to move to?
On FACTS ON DEBT: Sands warns painful tax reforms can no longer be avoided
Posted 10 June 2021, 7:59 p.m. Suggest removal
KapunkleUp says...
However you slice this, taxes are just a fact of life. However, paying taxes should always come with two things: 1. They need to be fair up and down society. 2. You need to get something back (services, infrastructure, etc...) for paying taxes. To beat an already dead horse, what did we get back from the introduction of VAT? Nothing.
On Ex-AG: ‘No cause to panic’ over 15% tax
Posted 8 June 2021, 3:23 p.m. Suggest removal
KapunkleUp says...
I can already see the OECD preparing another list with us on it. That thought aside, our financial sector was destroyed by Hubert and Francis a long time ago. As for company incorporation, those fees are a drop in the bucket compared to other government income sources. Anyone who seriously thinks having a 15% income tax on IBCs will impact anything around here is just plain wrong. If we declare just ONE DAY a year as a No Government Tiefing Day, our country would save/make more money in that one day alone than all company yearly incorporation fees combined.
On Bahamas can’t be ‘burnt’ over 15% corporate taxes
Posted 7 June 2021, 10:53 p.m. Suggest removal
KapunkleUp says...
Our politicians are "badly flawed".
On PLP Deputy: Budget is 'badly flawed'
Posted 4 June 2021, 10:35 a.m. Suggest removal