Not to be disrespectful, but you don't know exactly what is going on. Commercial vessels are only entitled to Duty exemption, not VAT. Whilst a private vessel is entitled to both VAT and Duty exemption. I'm not speaking from a place of fearmongering or speculation. I've sat with the Port Director and spoken with high ranking Customs Officials. We have also spoken at length with the Minister of AMR, who confirms this disparity. To us, the distinction made between a private person and a commercial vessel intended for fishing is unwarranted and unfair. The justification is that any cost to a business paid to VAT is able to be set off as a VAT credit - this is all well and good, but the reality is many small fishermen who are not VAT registered will not be able to actualize this implied VAT credit setoff. We say, just lower the damn fees and have the courage to target properly who you are trying to target.
BTT has continued to support our efforts here in The Bahamas. Our interests in both the USA and The Bahamas are shared when it comes to protecting bonefish, tarpon and permit habitats. Many thanks to BTT and great work Justin.
PaulMaillis says...
Not to be disrespectful, but you don't know exactly what is going on. Commercial vessels are only entitled to Duty exemption, not VAT. Whilst a private vessel is entitled to both VAT and Duty exemption. I'm not speaking from a place of fearmongering or speculation. I've sat with the Port Director and spoken with high ranking Customs Officials. We have also spoken at length with the Minister of AMR, who confirms this disparity. To us, the distinction made between a private person and a commercial vessel intended for fishing is unwarranted and unfair. The justification is that any cost to a business paid to VAT is able to be set off as a VAT credit - this is all well and good, but the reality is many small fishermen who are not VAT registered will not be able to actualize this implied VAT credit setoff. We say, just lower the damn fees and have the courage to target properly who you are trying to target.
On Lobster season fears over boat registration fee reform
Posted 21 July 2023, 9:15 a.m. Suggest removal
PaulMaillis says...
BTT has continued to support our efforts here in The Bahamas. Our interests in both the USA and The Bahamas are shared when it comes to protecting bonefish, tarpon and permit habitats. Many thanks to BTT and great work Justin.
On PaulMaillis
Posted 22 May 2021, 8:58 a.m. Suggest removal
PaulMaillis says...
The NFA stands for the export ban on conch, as well as supporting an end to unregulated skinned conch. Shell to dock only.
On Fishermen fear 40% crawfish price slump
Posted 31 July 2020, 9:07 a.m. Suggest removal