I stopped reading at “which every country in our wider region, from the USA and Canada to Barbados, Trinidad and Antigua manages to make work.” Comparing the Bahamas to the USA or Canada is ridiculous. Also contrary to what is being stated not every country in our wider region has income taxes (think Cayman Islands which is doing much better than Barbados and Trinidad...)
But is the Bahamas really a low emission country? We burn bunker C fuel to produce electricity, when the power is off everyone turns on their generator, every adult on this island drives a car (often burning oil), we have the most busy cruise ship port in the world, we have a transshipment port, an oil refinery, we burn our trash etc. Should we not start by reducing our CO2 emissions?
Be careful, because the competition will not be charging 15% corporate tax. Here is just one example:
"If a United States citizen becomes a bona fide Puerto Rican resident and moves his or her business to Puerto Rico, the income becomes Puerto Rican sourced income. This income benefits from a 4% corporate tax/fixed income tax rate, a 100% exemption on property taxes, and a 100% exemption on dividends from export services."
As a reminder we already lost Bacardi to Puerto Rico...
Government is interested in maximizing its revenues. It’s a lot easier for a company to reduce its income than to reduce its turnover on its financial statements.
"if they’re going to start adding taxes here I might as well be in the US.” Yep this is what some people don't understand, when there will be 15% corporate tax, there will really be no more reason to be here...
Proguing says...
Yep they will also ask for tax exemptions, additional land for a golf etc.
On WALKING AWAY: Govt pulls plug on Grand Lucayan deal and is now seeking other investors
Posted 22 December 2021, 11:18 a.m. Suggest removal
Proguing says...
Well apparently this writer wants us to take for model shitholes like Haiti Jamaica and Trinidad that have income taxes...
On How income tax works
Posted 21 December 2021, 8:05 a.m. Suggest removal
Proguing says...
I stopped reading at “which every country in our wider region, from the USA and Canada to Barbados, Trinidad and Antigua manages to make work.” Comparing the Bahamas to the USA or Canada is ridiculous. Also contrary to what is being stated not every country in our wider region has income taxes (think Cayman Islands which is doing much better than Barbados and Trinidad...)
On How income tax works
Posted 21 December 2021, 8 a.m. Suggest removal
Proguing says...
But is the Bahamas really a low emission country? We burn bunker C fuel to produce electricity, when the power is off everyone turns on their generator, every adult on this island drives a car (often burning oil), we have the most busy cruise ship port in the world, we have a transshipment port, an oil refinery, we burn our trash etc. Should we not start by reducing our CO2 emissions?
On A changing world and The Bahamas
Posted 17 December 2021, 11:24 a.m. Suggest removal
Proguing says...
Be careful, because the competition will not be charging 15% corporate tax. Here is just one example:
"If a United States citizen becomes a bona fide Puerto Rican resident and moves his or her business to Puerto Rico, the income becomes Puerto Rican sourced income. This income benefits from a 4% corporate tax/fixed income tax rate, a 100% exemption on property taxes, and a 100% exemption on dividends from export services."
As a reminder we already lost Bacardi to Puerto Rico...
On HUBERT EDWARDS: Reigniting the debate on Bahamian taxation
Posted 17 December 2021, 8:50 a.m. Suggest removal
Proguing says...
Interesting to see that accounts receivables from the Government are booked as "loss provisions"...
On Nassau airport loss up 8-fold to $37.4m
Posted 17 December 2021, 8:40 a.m. Suggest removal
Proguing says...
Government is interested in maximizing its revenues. It’s a lot easier for a company to reduce its income than to reduce its turnover on its financial statements.
On IMF and taxation
Posted 15 December 2021, 1:25 p.m. Suggest removal
Proguing says...
Good example of the "ease" of doing business in the Bahamas...
On Follow protocols and Carnival could just open
Posted 15 December 2021, 11:11 a.m. Suggest removal
Proguing says...
Sir, you are correct
On IMF and taxation
Posted 14 December 2021, 7:05 p.m. Suggest removal
Proguing says...
"if they’re going to start adding taxes here I might as well be in the US.” Yep this is what some people don't understand, when there will be 15% corporate tax, there will really be no more reason to be here...
On ‘We’re not taking VAT change sitting down’
Posted 14 December 2021, 6:57 p.m. Suggest removal