Comment history

The_Oracle says...

OK, is there some secret schedule for Government minister proclamations?
Darville is right on schedule !
Of course it will not get done.........

The_Oracle says...

Looking for hidden stuff/drugs/explosives and detecting radiation are completely different things.
I think if a politician was ever asked a question and answered straight out, the truth,
I'd pass out.

The_Oracle says...

Online purchases are in fact becoming taxable in the U.S.
State by state, and federal taxation is creeping in.
accepting 7% sales tax is also a little different than 15% on top of duty, freight and inland freight in some circumstances. (VAT is on top of C.I.F)
While Duty rates are supposed to come down to offset the additional tax, it is not an even swap.
How do you increase Government revenue (by $200 Mil/their figure) without costing someone else? (John Q public, retailers/merchants included)
What the public does not know is becoming increasingly evident, but it seems we are going from misinformation to bad assumption!
get your facts straight on the cost of doing business, and realize the costs that Government levies and takes right off the top.


On Bahamas '20 years too late' with VAT

Posted 17 February 2014, 4:48 p.m. Suggest removal

The_Oracle says...

They're not trying to sell BEC, they're going to split it into "Generation Co" and "Transmission/Distribution Co", and cut a deal for For private sector Management of the two resultant entities.
Ostensibly trying to avoid being the cost cutting union busting bad guy, and remove themselves from interfering with the operations thereof, and cutting off the ability to turn power back on for non payers during political leverage times.
At the same time, hopefully, a net metering or Net billing regime will be established, allowing consumers and businesses to go Solar.
The delays are not a good sign however, usually signifies back room skimming and personal fronting deals.

On Davis quiet on bidders for BEC

Posted 13 February 2014, 1:19 p.m. Suggest removal

The_Oracle says...

Devaluation? more than likely, in short order, and you'll be lucky to get 30 cents on the Dollar.
More like 3 cents once the foreigners pull their funds in response.

On Urgent finance problem delays PM

Posted 7 February 2014, 8:23 a.m. Suggest removal

The_Oracle says...

Now that is, unfortunately, a bit too close to the truth Reality_Check.
We are about to pay directly for our negligence as citizens, for allowing corruption and fraud to lead us directly into this mess.
Blindly following, never questioning, impugning those who did, who do.
For decades we have had two horses in the race,
and few have figured out both are dead,
Operated by sticks operated from behind closed doors.

On Urgent finance problem delays PM

Posted 6 February 2014, 7:56 p.m. Suggest removal

The_Oracle says...

yep, but arrears on rent will commence immediately.
Revenue from the sale becomes slushy.

The_Oracle says...

35 years ago, was hit by a car driven by a person in the court system, clerical office, they made a left turn on shirley st. from the right lane.
Wrote of my motorcycle, almost wrote me off, said person was clearly @ fault.
funny how that never came up in traffic court.
Said person also tried to drive off, same was included in the police report. when they finally showed up.
Endemic in the Bahamas, biggest problem an individual police officer faces, making sure he knows who he is about to write up, ad that his career will not be jeopardized via family connections.
Just like witness tampering.
Just like Jury tampering.
Just like unpaid license fees.
same as NIB non payments.
Just like bouncing checks.
and the list for those above the law goes on.
Yet they write more laws, increase penalties,
and nothing changes.

The_Oracle says...

Exemptions on duty for Bahamians may still continue to exist, but I do not hear of any Bahamian travel exemption from the 15% VAT !
Also, note the refund to visitors is contingent on the goods purchased leaving with them!
The potential is there to leave a very bad taste in the tourists mouth if the refund is not convenient, timely or clearly stated and not reduced via some % of BS.

On VAT refund eyed for duty free retailing

Posted 5 February 2014, 1:55 p.m. Suggest removal

The_Oracle says...

Perhaps the sins of the fathers do catch up Sheeprunner,
however, recognized shop fronts, are audited multiple times a year for N.I.B. for instance,
because they are easy to find,and they do keep legit books.
The other 60-80% fly by the seat of their pants, are difficult to track down, fly under the radar.
Ingraham knew exactly what he was doing when he created a "Tax Unit" in the ministry of Finance (Budget Comm. 2010)
The IMF has been lending, guiding, granting and now telling them what to do for decades.
Tying together a picture of all the revenues, fees and taxes from a given entity or person has enlightened the Government bean counters, who desperately need and want the inside economic picture.
After all, if you are going to be taxing income,
you need to see the money at all stages!
VAT is a stepping stone to first world accountability and personal liability to government.

On 'Mexican stand-off' on VAT bonded warehouses

Posted 5 February 2014, 10:52 a.m. Suggest removal