“Accountants have warned new and/or increased taxes “have to come” if The Bahamas is to slash its near-$10bn debt”
Hummm we were told that we needed VAT to slash our debt, and what happened? Our debt exploded. In other words more taxes = more debt in this country. How about reducing expenses? How about balancing the budget? This is what we need to do. We cannot live beyond our means eternally.
Trump or another Republican will be President in four years and all this pressure will disappear. There is no way that we are going to let Biden impose his new tax regime to this country, otherwise might as well cancel Independence Day.
These real estate agents and attorneys need to start reading international news. Biden who wants to impose a new tax regime on the Bahamas has now proposed a retroactive increase on the capital gains tax:
So at least you could say that our government is not as reckless as the Biden government, since we don't have any retroactive taxes.
The best solution would be for real estate agents to lower their commission from 6% to 4% so that buyers would not be affected. In many countries real estate agents take only 2% and attorney fees are at 1%. So if you want the Bahamas to be competitive, start by reducing your fees. That would also make your argument more credible.
There will never be tax treaties. Assume that we implement the 15% Biden corporate tax. Then we go knock on the door of the French for a tax treaty (more like beg). They will laugh in our face. Stop believing in fairy tales.
So what if the airports defaults? The airport is taken over by the creditors and continues business, just as it happened with Atlantis and Bahamar. The government cannot afford to bail out every enterprises in this country.
Hell no ! We don’t want no Biden tax here. This would be the end of the IBCs and all related offshore business. This is the last competitive advantage that we have and we are not going to give it up to please the democrats.
Proguing says...
“Accountants have warned new and/or increased taxes “have to come” if The Bahamas is to slash its near-$10bn debt”
Hummm we were told that we needed VAT to slash our debt, and what happened? Our debt exploded. In other words more taxes = more debt in this country. How about reducing expenses? How about balancing the budget? This is what we need to do. We cannot live beyond our means eternally.
On Tax increases ‘have to come’
Posted 31 May 2021, 10:21 a.m. Suggest removal
Proguing says...
Trump or another Republican will be President in four years and all this pressure will disappear. There is no way that we are going to let Biden impose his new tax regime to this country, otherwise might as well cancel Independence Day.
On Bahamas ‘can’t alter taxation on a dime’
Posted 28 May 2021, 5:01 p.m. Suggest removal
Proguing says...
These real estate agents and attorneys need to start reading international news. Biden who wants to impose a new tax regime on the Bahamas has now proposed a retroactive increase on the capital gains tax:
https://www.marketwatch.com/story/biden…
So at least you could say that our government is not as reckless as the Biden government, since we don't have any retroactive taxes.
The best solution would be for real estate agents to lower their commission from 6% to 4% so that buyers would not be affected. In many countries real estate agents take only 2% and attorney fees are at 1%. So if you want the Bahamas to be competitive, start by reducing your fees. That would also make your argument more credible.
On Govt urged to delay 12% VAT realty hike
Posted 28 May 2021, 4:51 p.m. Suggest removal
Proguing says...
You will soon be hearing tax, tax, tax...
On BUDGET: Debt on course to top $10 billion
Posted 27 May 2021, 3:33 p.m. Suggest removal
Proguing says...
Better late than never....
On Wells ‘almost certain’ Pfizer vaccine will be available this year in Bahamas
Posted 26 May 2021, 1:41 p.m. Suggest removal
Proguing says...
Breaking news: Ireland says no to the Biden minimum corporate tax.
https://news.yahoo.com/biden-global-tax…
On Bahamas ‘value proposition’ threat from 15% US tax plan
Posted 26 May 2021, 12:34 p.m. Suggest removal
Proguing says...
Yep, apparently we have so much money we can even bail out Canadian companies
On Govt: We’ll do whatever needed to support NAD
Posted 26 May 2021, 7:26 a.m. Suggest removal
Proguing says...
There will never be tax treaties. Assume that we implement the 15% Biden corporate tax. Then we go knock on the door of the French for a tax treaty (more like beg). They will laugh in our face. Stop believing in fairy tales.
On Bahamas ‘value proposition’ threat from 15% US tax plan
Posted 26 May 2021, 5:13 a.m. Suggest removal
Proguing says...
So what if the airports defaults? The airport is taken over by the creditors and continues business, just as it happened with Atlantis and Bahamar. The government cannot afford to bail out every enterprises in this country.
On Govt: We’ll do whatever needed to support NAD
Posted 25 May 2021, 2:38 p.m. Suggest removal
Proguing says...
Hell no ! We don’t want no Biden tax here. This would be the end of the IBCs and all related offshore business. This is the last competitive advantage that we have and we are not going to give it up to please the democrats.
On Bahamas ‘value proposition’ threat from 15% US tax plan
Posted 25 May 2021, 2:26 p.m. Suggest removal