We'll be like Jamaica in short order where the IMF has to set up shop in our Central Bank to monitor their assets...For all that Jamaica produces and for as valuable as their human capital is (well the employable human capital they have left since the ones who can make a real difference leave and never come back) they're still a heavily indebted country.
When the IMF moves in, you know you're in deep dodo!
I wasn't comparing it to the Bahamas in any way. I was merely disputing the idea that any country can implement a VAT in less than a year.
However, our government could potentially learn from Singapore's gaming tax especially since we're looking to beef up the gaming industry in this country. The top three revenue earners for the government of Singapore are the gaming tax, the VAT and the Income tax.
Most countries in the developing world today follow the example of Singapore. Singapore discussed implementing a VAT for nearly 20 years before finally implementing it in 1994. There implementation was nearly seamless as they gave ample time to educating their citizens among other things.
This government has yet to begin implementing such sessions and they hope to have this up within a year. No single government has successfully implemented VAT within a year. The accounting work alone takes time. How many tax accountants does this country have...
MartGM says...
We'll be like Jamaica in short order where the IMF has to set up shop in our Central Bank to monitor their assets...For all that Jamaica produces and for as valuable as their human capital is (well the employable human capital they have left since the ones who can make a real difference leave and never come back) they're still a heavily indebted country.
When the IMF moves in, you know you're in deep dodo!
On DNA dismisses PM's VAT comments as 'nonsense'
Posted 12 November 2013, 12:44 p.m. Suggest removal
MartGM says...
Great Job Tribune!! Keep it up!
On Tribune reaches online milestones
Posted 6 November 2013, 12:36 p.m. Suggest removal
MartGM says...
mmmmmm...Times are surely changing.
On New rules in House are 'against democracy'
Posted 6 November 2013, 12:35 p.m. Suggest removal
MartGM says...
I thought gambling was illegal too...
On Mother and daughter die in shooting
Posted 6 November 2013, 10:37 a.m. Suggest removal
MartGM says...
What???
On Halkitis says contracts had expired
Posted 21 October 2013, noon Suggest removal
MartGM says...
Those darn millipedes are such a nuisance!!
On Killer toad found in New Providence
Posted 9 September 2013, 10:50 a.m. Suggest removal
MartGM says...
ohhh God! Just awful!
On Animals tortured in abandoned building
Posted 23 August 2013, 11:57 a.m. Suggest removal
MartGM says...
ohhh...I thought there would be something a little different this yr!
On Tonight's Independence celebrations
Posted 9 July 2013, 11:35 a.m. Suggest removal
MartGM says...
I wasn't comparing it to the Bahamas in any way. I was merely disputing the idea that any country can implement a VAT in less than a year.
However, our government could potentially learn from Singapore's gaming tax especially since we're looking to beef up the gaming industry in this country. The top three revenue earners for the government of Singapore are the gaming tax, the VAT and the Income tax.
On ACCORDING TO ME: Enemy of our state
Posted 1 July 2013, 2:12 p.m. Suggest removal
MartGM says...
Most countries in the developing world today follow the example of Singapore. Singapore discussed implementing a VAT for nearly 20 years before finally implementing it in 1994. There implementation was nearly seamless as they gave ample time to educating their citizens among other things.
This government has yet to begin implementing such sessions and they hope to have this up within a year. No single government has successfully implemented VAT within a year. The accounting work alone takes time. How many tax accountants does this country have...
On ACCORDING TO ME: Enemy of our state
Posted 1 July 2013, 12:14 p.m. Suggest removal