For a small non-manufacturing nation to create a "UL" or "CE" or "E" standards and testing outfit from scratch, is insanity The Consumer protection act, as yet thankfully not implemented, is going to bring importation and retail to a grinding halt as written. It goes well beyond what was required by the trade agreements, and will cost a fortune to implement. All of the bureaucracies that will have to be created from scratch, staffed, equipped. Impossible.
One must understand that the imf, oecd, and a host of other Bureaucracies require and have constantly pressured for certain rules and regulations to be implemented for the simple reason that the Government needs to keep borrowing money (from them!) In addition to other nations needing to find their lost tax revenue wherever it may be hiding. (Historically, here)
The trade Agreements we have signed are known as "super-WTO" in that they go above and beyond WTO requirements. Almost all of the legislation Tabled and passed over the last 20 years have been for the purpose of bringing us into compliance with the rules of other jurisdictions, countries or otherwise. (stateless bureaucracies.)
The introduction of VAT, is the chosen method of taxation to replace revenue lost via the lowering of import duties, a direct requirement of wto, eu-epa, and carib-can. All of these compliance's are scheduled, and were signed onto at various stages over the last 20 years. Clauses most likely to cause issues for Bahamians are "Most Favored Nation" This means there can be no preferential treatment for anyone over and above treatment of the citizens of (or investments from) the signatory nations. This includes Bahamians. Work permit fees are discriminatory, as are import tariffs, as are exemptions from real property tax for Bahamians, as is arguably the Hawksbill Creek Agreement. There are 6 or so pieces of legislation pending to bring us into compliance in other areas.
Unfortunately, our Government administrations have been remiss in their practice of keeping this information out of the average citizens hands, and quite frankly most in Government don't know the effects of most commitments, although they know they want and need more money.
Money to spend, and to service the national debt.
Basically, we are no longer running our own country,(although what we are still in charge of, we run into the ground) but are constantly having to "adjust" to ever increasing extraterritorial requirements. This is usually in a constant state of "ketch up" This is all going to add more cost to the running of this country than VAT will provide.
The_Oracle says...
For a small non-manufacturing nation to create a "UL" or "CE" or "E"
standards and testing outfit from scratch, is insanity
The Consumer protection act, as yet thankfully not implemented,
is going to bring importation and retail to a grinding halt as written.
It goes well beyond what was required by the trade agreements, and will cost
a fortune to implement. All of the bureaucracies that will have to be created from scratch, staffed, equipped.
Impossible.
On Bahamas seeks 'balance' on WTO benefits access
Posted 15 May 2013, 8:40 p.m. Suggest removal
The_Oracle says...
One must understand that the imf, oecd, and a host of other Bureaucracies
require and have constantly pressured for certain rules and regulations to be implemented
for the simple reason that the Government needs to keep borrowing money
(from them!)
In addition to other nations needing to find their lost tax revenue wherever it may be hiding.
(Historically, here)
The trade Agreements we have signed are known as "super-WTO" in that they go above and beyond WTO requirements.
Almost all of the legislation Tabled and passed over the last 20 years have been for the purpose of bringing us into compliance with the rules of other jurisdictions, countries or otherwise.
(stateless bureaucracies.)
The introduction of VAT, is the chosen method of taxation to replace revenue lost via the lowering of import duties, a direct requirement of wto, eu-epa, and carib-can.
All of these compliance's are scheduled, and were signed onto at various stages over the last 20 years.
Clauses most likely to cause issues for Bahamians are "Most Favored Nation"
This means there can be no preferential treatment for anyone over and above treatment of the citizens of (or investments from) the signatory nations.
This includes Bahamians.
Work permit fees are discriminatory, as are import tariffs, as are exemptions from real property tax for Bahamians, as is arguably the Hawksbill Creek Agreement.
There are 6 or so pieces of legislation pending to bring us into compliance in other areas.
Unfortunately, our Government administrations have been remiss in their practice of keeping this information out of the average citizens hands, and quite frankly most in Government don't know the effects of most commitments, although they know they want and need more money.
Money to spend, and to service the national debt.
Basically, we are no longer running our own country,(although what we are still in charge of, we run into the ground) but are constantly having to "adjust" to ever increasing extraterritorial requirements.
This is usually in a constant state of "ketch up"
This is all going to add more cost to the running of this country than VAT will provide.
On 'Major concern' on Bahamas' growing trade bureaucracy
Posted 15 May 2013, 8:33 p.m. Suggest removal