Yep you got that one right, I remember when VAT was introduced we were told that it would solve all of our problems, starting the debt. They will now tell us the same story with the corporate tax to please Biden.
Nice quote too: “What the US has put on the table … [is saying] we want the rest of the world to follow, we kill tax havens." meaning kill the Bahamas. At least they are honest about it now.
"The Biden administration’s move is a marked change from the stance taken by its Trump predecessor, which was more focused on allowing sovereign nations to set their own tax rates"
Exactly, and to think that some Bahamians supported Biden the bully, who wants to decide what taxes the Bahamas should have. This type of interference is a violation of international law and the UN Charter. When will the Bahamas take a stand?
"IMF officials endorse Biden's corporate tax hike, global minimum plan"
"washington (Reuters) -International Monetary Fund officials on Wednesday endorsed U.S. President Joe Biden’s plan to raise corporate income taxes and negotiate a global minimum tax, adding that companies and wealthy individuals that have prospered during the pandemic can afford to pay more."
All the black lists the Bahamas was put on were initiated under Democrat presidencies. Under Clinton we had to sign automatic of exchange upon demand. As I said your love for the old man is blinding you completely.
With Biden's 21% corporate tax, I doubt Gunvor will remain very long in the Bahamas. Considering the the company is paying USD 10,000 monthly housing rent for its employees, several Bahamians will be left with an overpriced piece of real estate that they cannot rent out anymore.
The same way Obama did with exchange of information and as mentioned above the US did not even participate in the program. This would have never happened with Trump.
If Biden forces the whole world to have a 21% tax, yes he is to blame. Your love for the old man is blinding you. Obama did the same with automatic of exchange of information, except that the US was the only country not to participate.
Firstly, don't you think that Bahamians should decide on our tax matters and not Biden? Secondly many foreign companies come here because there are no corporate taxes, just like many banking clients came here for the banking secrecy. We already lost many banks, now whatever is left will leave. Why would someone set-up a company in the Bahamas once it is taxed at 21%? You can say goodbye to all the IBCs. Some people who hold property through companies will soon be shocked to learn they have to pay 21% tax on any gain when they sell. The consequences of this will be catastrophic.
Proguing says...
Yep you got that one right, I remember when VAT was introduced we were told that it would solve all of our problems, starting the debt. They will now tell us the same story with the corporate tax to please Biden.
On Seize ‘bull by horns’ to beat corporate tax push
Posted 15 April 2021, 1:41 p.m. Suggest removal
Proguing says...
Nice quote too: “What the US has put on the table … [is saying] we want the rest of the world to follow, we kill tax havens." meaning kill the Bahamas. At least they are honest about it now.
On Seize ‘bull by horns’ to beat corporate tax push
Posted 15 April 2021, 10:43 a.m. Suggest removal
Proguing says...
"The Biden administration’s move is a marked change from the stance taken by its Trump predecessor, which was more focused on allowing sovereign nations to set their own tax rates"
Exactly, and to think that some Bahamians supported Biden the bully, who wants to decide what taxes the Bahamas should have. This type of interference is a violation of international law and the UN Charter. When will the Bahamas take a stand?
On Seize ‘bull by horns’ to beat corporate tax push
Posted 15 April 2021, 10:06 a.m. Suggest removal
Proguing says...
Breaking news:
"IMF officials endorse Biden's corporate tax hike, global minimum plan"
"washington (Reuters) -International Monetary Fund officials on Wednesday endorsed U.S. President Joe Biden’s plan to raise corporate income taxes and negotiate a global minimum tax, adding that companies and wealthy individuals that have prospered during the pandemic can afford to pay more."
https://www.reuters.com/article/us-imf-…
On ‘Naive to think we’ll stay zero tax nation’
Posted 14 April 2021, 8:49 a.m. Suggest removal
Proguing says...
Just wait until they hear about the new Biden 21% corporate tax they will have to pay
On Briland: Cruise tourism ‘disaster waiting to happen’
Posted 14 April 2021, 6:47 a.m. Suggest removal
Proguing says...
All the black lists the Bahamas was put on were initiated under Democrat presidencies. Under Clinton we had to sign automatic of exchange upon demand. As I said your love for the old man is blinding you completely.
On ‘Naive to think we’ll stay zero tax nation’
Posted 13 April 2021, 6:22 p.m. Suggest removal
Proguing says...
With Biden's 21% corporate tax, I doubt Gunvor will remain very long in the Bahamas. Considering the the company is paying USD 10,000 monthly housing rent for its employees, several Bahamians will be left with an overpriced piece of real estate that they cannot rent out anymore.
On Lyford Cay broker in $22m bribery scheme
Posted 13 April 2021, 6:16 p.m. Suggest removal
Proguing says...
The same way Obama did with exchange of information and as mentioned above the US did not even participate in the program. This would have never happened with Trump.
On ‘Naive to think we’ll stay zero tax nation’
Posted 13 April 2021, 5:37 p.m. Suggest removal
Proguing says...
If Biden forces the whole world to have a 21% tax, yes he is to blame. Your love for the old man is blinding you. Obama did the same with automatic of exchange of information, except that the US was the only country not to participate.
On ‘Naive to think we’ll stay zero tax nation’
Posted 13 April 2021, 5:33 p.m. Suggest removal
Proguing says...
Firstly, don't you think that Bahamians should decide on our tax matters and not Biden? Secondly many foreign companies come here because there are no corporate taxes, just like many banking clients came here for the banking secrecy. We already lost many banks, now whatever is left will leave. Why would someone set-up a company in the Bahamas once it is taxed at 21%? You can say goodbye to all the IBCs. Some people who hold property through companies will soon be shocked to learn they have to pay 21% tax on any gain when they sell. The consequences of this will be catastrophic.
On ‘Naive to think we’ll stay zero tax nation’
Posted 13 April 2021, 4:28 p.m. Suggest removal