"*“That partner said the same discussion in Canada, the length of time to get that permit will be years, not months. We are drafting a contract with ‘Partner A’ that gives so many months to get the permit and the parties see that as reasonable....What would be reasonable to get a permit in The Bahamas is defined in weeks and months, whereas in Canada it’s defined in months and years. This is no simple matter.”*"
This could be good or bad, depending on how big is the risk involved in the business concern.
If its say a firm digging for oil, the comparison of "*Bahamas great*" because it takes months vs "*Canada bad*" because it takes years to vet the company, its business practices personnel and equipment could be a very bad sign and more like "*Bahamas, lamb to the slaughter*"
But I agree generally, all of our administrations make grand announcements **with unrealistic deadlines** without understand the first thing about what the actual work entails. This administration appears to be especially prone to do this... actually Minnis was seat of the pants too..
I have the feeling that what we call impediments to business ease are largely law makers creating laws to make their private business services mandated by law. *Pinglingisms*, laws that make no sense any place else in the world but the Bahamas where it benefits **the** political power broker. A lawyer must do this, an accountant must do that etc. If the lawmaker then has to ease business processes, it will be very hard to take money from his own pocket.
VAT is generally targeted at manufacturing where different segments of the market take an input and transform it to make it more valuable. What the govt did here as we have no large scale manufacturing sector was basically a money grab.
Wait, I just really read what you said, I hope you're being sarcastic when you say "*customs duty adds value to the product*".
When a "Value Added Tax" references *value*, it is **not** talking about the dollar "*cost*" of the item.
It is saying, when this thing left your hands it left **with more intrinsic value** to the customer than when it entered your hands. *Delivering* a product or inspecting a product adds nothing to the *value* of the product. But adding a finish to a natural wood table adds value to the table.
Crime in GB has been on the rise for some time now. More shootings, more drug related incidents, more human smuggling incidents. We should not conflate "good job" from the Commissioner on that island with "low" numbers when those numbers are clearly on the rise. We should be ringing the alarm bell and asking what is changing and how do we stop GB from becoming Nassau in 20 years... or less.
The pattern I see is that we allow things to happen as they happen then take credit for the great job we've done if the happenings are good (tourism numbers being a great example solely due to our proximity to the US. We cant even be bothered to clean up the mess of Arawak cay, potters cay and junkanoo beach, then we describe chaos and shantyization as expressions of "bahamian" culture).
If on the other hand the happenings are bad, then "everybody" needs to take responsibility. Look at every aspect of the economy, social life, physical infrastructure.... Nassau just "happens", nobody in charge
It's not bs as much as it's just not the right product at this time. When the universe limits in person interaction again, it'll be perfect... but then again, we have debit and credit cards...
The rate is meaningless without a comparison of what the rate is being charged against. We pay VAT on everything but the lowest valued food items and we pay VAT on customs duties, VAT on VAT and with JDL, we pay a further tax of 20cents per pound on every single air freight item.
ThisIsOurs says...
"*“That partner said the same discussion in Canada, the length of time to get that permit will be years, not months. We are drafting a contract with ‘Partner A’ that gives so many months to get the permit and the parties see that as reasonable....What would be reasonable to get a permit in The Bahamas is defined in weeks and months, whereas in Canada it’s defined in months and years. This is no simple matter.”*"
This could be good or bad, depending on how big is the risk involved in the business concern.
If its say a firm digging for oil, the comparison of "*Bahamas great*" because it takes months vs "*Canada bad*" because it takes years to vet the company, its business practices personnel and equipment could be a very bad sign and more like "*Bahamas, lamb to the slaughter*"
But I agree generally, all of our administrations make grand announcements **with unrealistic deadlines** without understand the first thing about what the actual work entails. This administration appears to be especially prone to do this... actually Minnis was seat of the pants too..
On ‘Business ease fix just not so simple’
Posted 20 January 2025, 12:17 p.m. Suggest removal
ThisIsOurs says...
I have the feeling that what we call impediments to business ease are largely law makers creating laws to make their private business services mandated by law. *Pinglingisms*, laws that make no sense any place else in the world but the Bahamas where it benefits **the** political power broker. A lawyer must do this, an accountant must do that etc. If the lawmaker then has to ease business processes, it will be very hard to take money from his own pocket.
On ‘Business ease fix just not so simple’
Posted 20 January 2025, 12:09 p.m. Suggest removal
ThisIsOurs says...
They forgot to mention that it was his fellow police officers who fell on him.
On Officer injured during House mace throwing incident still recovering
Posted 20 January 2025, 10:26 a.m. Suggest removal
ThisIsOurs says...
VAT is generally targeted at manufacturing where different segments of the market take an input and transform it to make it more valuable. What the govt did here as we have no large scale manufacturing sector was basically a money grab.
On Gov’t ‘wipes away hundreds of millions in property tax arrears’
Posted 20 January 2025, 9:38 a.m. Suggest removal
ThisIsOurs says...
Wait, I just really read what you said, I hope you're being sarcastic when you say "*customs duty adds value to the product*".
When a "Value Added Tax" references *value*, it is **not** talking about the dollar "*cost*" of the item.
It is saying, when this thing left your hands it left **with more intrinsic value** to the customer than when it entered your hands. *Delivering* a product or inspecting a product adds nothing to the *value* of the product. But adding a finish to a natural wood table adds value to the table.
On Gov’t ‘wipes away hundreds of millions in property tax arrears’
Posted 20 January 2025, 8:36 a.m. Suggest removal
ThisIsOurs says...
-
On Gov’t ‘wipes away hundreds of millions in property tax arrears’
Posted 20 January 2025, 8:35 a.m. Suggest removal
ThisIsOurs says...
Crime in GB has been on the rise for some time now. More shootings, more drug related incidents, more human smuggling incidents. We should not conflate "good job" from the Commissioner on that island with "low" numbers when those numbers are clearly on the rise. We should be ringing the alarm bell and asking what is changing and how do we stop GB from becoming Nassau in 20 years... or less.
The pattern I see is that we allow things to happen as they happen then take credit for the great job we've done if the happenings are good (tourism numbers being a great example solely due to our proximity to the US. We cant even be bothered to clean up the mess of Arawak cay, potters cay and junkanoo beach, then we describe chaos and shantyization as expressions of "bahamian" culture).
If on the other hand the happenings are bad, then "everybody" needs to take responsibility. Look at every aspect of the economy, social life, physical infrastructure.... Nassau just "happens", nobody in charge
On Carlos Reid calls for collective responsibility in crime fight
Posted 20 January 2025, 6:47 a.m. Suggest removal
ThisIsOurs says...
My point is saying the "rate" is lower gives no information. It's what the rate is applied against that's critical
On Gov’t ‘wipes away hundreds of millions in property tax arrears’
Posted 19 January 2025, 4:27 p.m. Suggest removal
ThisIsOurs says...
It's not bs as much as it's just not the right product at this time. When the universe limits in person interaction again, it'll be perfect... but then again, we have debit and credit cards...
On Bahamas ‘going in reverse’ through 20% cash increase
Posted 19 January 2025, 6:49 a.m. Suggest removal
ThisIsOurs says...
"*A higher rate of VAT*"
The rate is meaningless without a comparison of what the rate is being charged against. We pay VAT on everything but the lowest valued food items and we pay VAT on customs duties, VAT on VAT and with JDL, we pay a further tax of 20cents per pound on every single air freight item.
On Gov’t ‘wipes away hundreds of millions in property tax arrears’
Posted 19 January 2025, 6:45 a.m. Suggest removal