"*When we asked them to say what percentage of businesses could be impacted, based on their own numbers, it was 113 - somewhere around there. We have 45,000 businesses that apply for a Business Licence. That is less than 0.003 percent. We don’t see why this is posing a great difficulty.”*
**That's a statement clearly meant for a hopefully gullible public to swallow.**
The question isnt how many companies are on the register, because Im certain straw and coconut vendors arent meeting with their auditors to get ready. The question is what do the new guidelines mean in terms of new compliance requirements, how long will it reasonably take for the review of these 113 companies, how long will it take for companies to remediate audit findings and do we have the audit capacity to execute in the time given. **Basically have companies been set up to fail in order to collect more tax dollars**
**And where is Brave Davis as another debacle looms at ministry of Finance?**
"*The accounting profession is afraid to take on clients that might pose a risk to them because they are on the hook as accountants. If they certify a document inaccurately, the Department of Inland Revenue will come for them. I heard one accountant yesterday say they will not do this; it’s not worth the risk.”*"
Im not clear on what the change means for accounting firms and how that increases the amount of work for the industry. Are there sufficient firms to do the work?
Im left with a feeling that govt is giving multimillion dollar companies impossible targets as a way to get more tax dollars. Im left with the feeling that the goal is to find more innovative non transparent ways to tax but not call it a tax. just as Alex_Charles has said because Ive seen companies spend years just to get a single audit complete. What year is COB at with their audit now? The president spoke to that before he left and it was nowhere near current. The same can be applied to multiple companies.
**Where is Brave Davis? Is he going to allow another debacle to unfold in the ministry of finance then claim he knew nothing about it?**
Does not seem like a foolproof plan, but maybe it keeps his family safe.... I heard on a news report that the young man reported seeing the people who he thought wanted to kill him outside court waiting to go to their court case. ... So what if they all end up in prison?
"*For the most part, the contractors have been doing a good job,” he told The Tribune. “That’s why we have inspectors because the home has to be signed off first by the homeowner and the contractor. If there is any legitimate concern, it’ll be addressed.”*"
What were the inspectors doing over the months the roof was falling down on the five foot two woman who seems to do everything ...
There are 450k people in the Bahamas. All of them will not be going to the Burna boy concert. The people with discretionary income will go. I doubt anyone having to chose between eating and going to the concert will chose the concert.
I dont think the concert was sold out, the promoters would not give any info about ticket sales, no promoter holds a sold out concert as a secret. But It is possible that by the time they have the concert they may get more ticket sales than they had a day ago
lol, theyll probably write in the law that they own 75% of proceeds from any copywritten material. The govt literally cannot see anyone making money without devising some plan for how to take it... any Bahamian anyway.
How are they even fixing their tongues to pronounce these words while simultaneously using the defense "*the govt cannot be sued for copyright infringement*" in the case currently in court over the bahamian flag copyright? What bigger infringement threat does any Bahamian business person face than the Bahamian govt?
There was actually a video of a shark swimming around Montagu. I dont remember if the shark survived the encounter. I wouldnt be surprised if they come in at night
If we had the resources to do so, the teeth could be used to track a shark. The teeth mark's would be the first clue to the shark size then monitor that area for shark activity of given size. Determine if there is a pattern to visits. Determine if the same shark is visiting the area. Catch the shark. (This is the step with the lowest probability of success). Map the teeth compare the bite mark(?) Place a tracker on the shark. Again I dont believe we have the resources to do this, alot of *wait and see* time, just saying there might be a way to narrow down to a specific shark9
I dont want to say that foreign companies have more money and are easier to extort for large amounts of money. So I wont. What I will say is the US State Dept report lists one of the chief complaints of companies responding to Bshamian RFPs is the request for money in return for contract award, i.e., extortion. Bahamian companies on the other hand aren't less open to extortion but they have less attractive monies to do so with. Just my theory.
I recall the 200,000 "*fee*" the kiddie carnival has to pay the current political party to get into the country. Makes not one wit of sense no matter how they try to justify it. How many more companies are being asked to pay the political party to gain access?
ThisIsOurs says...
"*When we asked them to say what percentage of businesses could be impacted, based on their own numbers, it was 113 - somewhere around there. We have 45,000 businesses that apply for a Business Licence. That is less than 0.003 percent. We don’t see why this is posing a great difficulty.”*
**That's a statement clearly meant for a hopefully gullible public to swallow.**
The question isnt how many companies are on the register, because Im certain straw and coconut vendors arent meeting with their auditors to get ready. The question is what do the new guidelines mean in terms of new compliance requirements, how long will it reasonably take for the review of these 113 companies, how long will it take for companies to remediate audit findings and do we have the audit capacity to execute in the time given. **Basically have companies been set up to fail in order to collect more tax dollars**
**And where is Brave Davis as another debacle looms at ministry of Finance?**
On Business Licence audits to impact ‘less than 1%’
Posted 15 December 2023, 2:34 a.m. Suggest removal
ThisIsOurs says...
"*The accounting profession is afraid to take on clients that might pose a risk to them because they are on the hook as accountants. If they certify a document inaccurately, the Department of Inland Revenue will come for them. I heard one accountant yesterday say they will not do this; it’s not worth the risk.”*"
Im not clear on what the change means for accounting firms and how that increases the amount of work for the industry. Are there sufficient firms to do the work?
Im left with a feeling that govt is giving multimillion dollar companies impossible targets as a way to get more tax dollars. Im left with the feeling that the goal is to find more innovative non transparent ways to tax but not call it a tax. just as Alex_Charles has said because Ive seen companies spend years just to get a single audit complete. What year is COB at with their audit now? The president spoke to that before he left and it was nowhere near current. The same can be applied to multiple companies.
**Where is Brave Davis? Is he going to allow another debacle to unfold in the ministry of finance then claim he knew nothing about it?**
On Ex-minister blasts ‘outrageous’ Business Licence audit fines
Posted 15 December 2023, 2:23 a.m. Suggest removal
ThisIsOurs says...
Does not seem like a foolproof plan, but maybe it keeps his family safe.... I heard on a news report that the young man reported seeing the people who he thought wanted to kill him outside court waiting to go to their court case. ... So what if they all end up in prison?
On MAN BEGS ‘LET ME BACK INTO PRISON’: Commissioner praise for suspect who asked to cancel bail after shooting
Posted 13 December 2023, 8:14 p.m. Suggest removal
ThisIsOurs says...
"*For the most part, the contractors have been doing a good job,” he told The Tribune. “That’s why we have inspectors because the home has to be signed off first by the homeowner and the contractor. If there is any legitimate concern, it’ll be addressed.”*"
What were the inspectors doing over the months the roof was falling down on the five foot two woman who seems to do everything ...
On ‘The whole of the inside of my home is wrecked’ – Homeowner complains over unfinished roof repairs provided by Urban Renewal programme
Posted 13 December 2023, 8:09 p.m. Suggest removal
ThisIsOurs says...
There are 450k people in the Bahamas. All of them will not be going to the Burna boy concert. The people with discretionary income will go. I doubt anyone having to chose between eating and going to the concert will chose the concert.
I dont think the concert was sold out, the promoters would not give any info about ticket sales, no promoter holds a sold out concert as a secret. But It is possible that by the time they have the concert they may get more ticket sales than they had a day ago
On Rained off? Burna Boy postponed
Posted 13 December 2023, 3:02 p.m. Suggest removal
ThisIsOurs says...
lol, theyll probably write in the law that they own 75% of proceeds from any copywritten material. The govt literally cannot see anyone making money without devising some plan for how to take it... any Bahamian anyway.
On Bahamas suffers 3,000 gap over trademark applications
Posted 12 December 2023, 4:59 p.m. Suggest removal
ThisIsOurs says...
How are they even fixing their tongues to pronounce these words while simultaneously using the defense "*the govt cannot be sued for copyright infringement*" in the case currently in court over the bahamian flag copyright? What bigger infringement threat does any Bahamian business person face than the Bahamian govt?
On Bahamas suffers 3,000 gap over trademark applications
Posted 12 December 2023, 4:57 p.m. Suggest removal
ThisIsOurs says...
There was actually a video of a shark swimming around Montagu. I dont remember if the shark survived the encounter. I wouldnt be surprised if they come in at night
On BHS calls for end to ‘chumming’ practices
Posted 12 December 2023, 2:23 p.m. Suggest removal
ThisIsOurs says...
If we had the resources to do so, the teeth could be used to track a shark. The teeth mark's would be the first clue to the shark size then monitor that area for shark activity of given size. Determine if there is a pattern to visits. Determine if the same shark is visiting the area. Catch the shark. (This is the step with the lowest probability of success). Map the teeth compare the bite mark(?) Place a tracker on the shark. Again I dont believe we have the resources to do this, alot of *wait and see* time, just saying there might be a way to narrow down to a specific shark9
On BHS calls for end to ‘chumming’ practices
Posted 11 December 2023, 2:10 p.m. Suggest removal
ThisIsOurs says...
I dont want to say that foreign companies have more money and are easier to extort for large amounts of money. So I wont. What I will say is the US State Dept report lists one of the chief complaints of companies responding to Bshamian RFPs is the request for money in return for contract award, i.e., extortion. Bahamian companies on the other hand aren't less open to extortion but they have less attractive monies to do so with. Just my theory.
I recall the 200,000 "*fee*" the kiddie carnival has to pay the current political party to get into the country. Makes not one wit of sense no matter how they try to justify it. How many more companies are being asked to pay the political party to gain access?
On PM: Renewable plan clear strategy
Posted 10 December 2023, 7:50 a.m. Suggest removal