So what do you propose.......do nothing.......say nothing.......and let the politicians continue to lie to us and say all is good and that they are not using the additional revenue earned from VAT to spend us back into unsustainable deficits. D'Aguilar trying to suggest ways to keep to keep the politicians fiscally responsible. If you have a better idea, suggest it!
You cannot dispute what was said. It is on the recording. Nygard gave the PLP $5 million so that he could buy from the Government of The Bahamas what he wanted. He admits it freely on the video! That is a BRIBE and, for that, the PLP should resign and go off into the wilderness. This video is damning and so flickin' unbelievable. That someone with Nygard's disreputable character could come here, mix and mingle with gangsters like "Toggie" and "Bobo" who seemingly have unlimited access to the second highest elected official in the country, and you are not disgusted and appalled and embarrassed as a Bahamian makes me sick to my stomach. Nygard is white trash and should be run from this country. He has undermined the integrity of our Government! They should all GO!
Everybody beating up the Goverment about crime. But no one offers a solution. What are we to do.
Getting rid of the PLP and replacing them with the FNM will not solve the problem of crime.
Start talking about the solutions because politicians are not the brightest cookies in the cookie jar and they need help.
The bottom line is over 50% of our population are D- and below and they have no broughtupsy! They are unemployable! Dumb, dumb, dumb. So when they have no education, they cannot find a job! So they turn to crime to survive!
Are we prepared to reduce class sizes, lengthen the school year, import a whole load of qualified foreign teachers from English speaking first world countries, get rid of automatic advancement for kids who should not be advanced, increase the subsidy to private schools so they can offer more scholarships to deserving kids, etc etc etc and then raise taxes significantly to pay for this! If not, the situation will only get worse no matter who is in charge AND you all know that!
Do you remember when Perry and his band of merry men promised us that if we brought the liquidation home, Baha Mar would be open for Christmas?
They fought tooth and nail to stop the Chapter 11 process. Mitchell told us that Izmirlian should be deported since he was destroying our economy. Christie said that he was mentally unstable and Shane Gibson said that all future foreign direct investors should undergo psychological testing.
They promised us over and over again that all would be good if we trusted them. The Chinese were our friends and would look after us. They would make this project happen.
Well, it was all lies, lies, lies! I hear Izmirlian is OUT! The Chinese are refusing to put any more money in and nothing is going according to plan. It is one big f**** disaster! They should have stuck with the Chapter 11 plan! At least, the developer would have put in the money to keep the project going, the restructuring process would have been complete by now, and Bahamians would have been paid and back to work finishing the project.
But no! Their love affair with the Chinese was too intense. Too close and too intimate! And look a good sweat heart, the Chinese screwed them!
SP - why are you so vicious? You could say what you want to say without all the black/white bulls**t. So unnecessary and it only goes to how silly you really are and why it is so hard to reason with people like you! Mr. Myers makes a point and if you don't agree with his point.....fair enough......disagree with him. You don't have to carry on like a complete and utter ass!
Anyway, per your reference to the relevant section in the VAT, it really depends if your company is using the accrual method of accounting or the cash method of accounting.
If you are using the accrual method, you have to record the sale when it is made NOT when it is paid. In this instance, VAT would become due and payable when you record the sale. This leads to the cash flow issues that Mr. Myers referred to since if your customer does not pay you before the VAT becomes due then you have to dig in your pocket and find the money to pay the VAT yourself and hope you will get it back when your customer finally pays you.
If you are using the cash method, you record the sale when it is paid. You are right, there are no cash flow issues here since the customer pays you......before you have to pay the VAT to the government.
However, almost all large businesses are required by the VAT department to use the Accrual Method of Accounting (since this is what they have to use to generate their financial statements). Smaller businesses can use the Cash Method of Accounting since it is not as complicated as the Accrual Method and is probably the method being used by them anyway. It was felt that the easier you make it for the business to account for its sales, then the higher the compliance rate on VAT payments!
Bottom line: Under the Accrual Method, Mr. Myers is right......there are cash flow concerns! Under the Cash Method, you are right.....there are no cash flow concerns!
I hate when people talk and are so mis-informed. SP spends so much mindless energy attacking Robert Myers that his very first comment was total and absolute horse s**t. VAT is payable when you bill a customer....not when they pay. And that is causing cash flow problems for businesses. I run a business (clearly, unlike SP) and that is causing a cash flow problem for me. Bottom line: Robert Myers is right and you are totally and completely wrong. So, I suggest you shut up until you know what you are talking about. Mr. Myers keep talking your talk! I know that you were at the table when VAT was being introduced and you fought long and hard for us business people! I certainly hope you pay no attention to those retards who speak on subjects they know nothing about.
What? You think Bahamians clean better than haitians and jamaicans. Get serious! Say what you want about Superwash D'Aguilar has blown his competition out of the water! And he keeps expanding! You see his new location on Charles Saunders Highway? His mouth may be big but he puts his money in The Bahamas and employs people! And he does NOT cost you or I (the taxpayer) one dollar. Put healthcare in the hands of our bozo politicians and they will bankrupt it like everything else they run on behalf of us all.
Weezie says...
So what do you propose.......do nothing.......say nothing.......and let the politicians continue to lie to us and say all is good and that they are not using the additional revenue earned from VAT to spend us back into unsustainable deficits. D'Aguilar trying to suggest ways to keep to keep the politicians fiscally responsible. If you have a better idea, suggest it!
On 80% Parliament backing needed for spending rise
Posted 17 March 2016, 6:17 p.m. Suggest removal
Weezie says...
You cannot dispute what was said. It is on the recording. Nygard gave the PLP $5 million so that he could buy from the Government of The Bahamas what he wanted. He admits it freely on the video! That is a BRIBE and, for that, the PLP should resign and go off into the wilderness. This video is damning and so flickin' unbelievable. That someone with Nygard's disreputable character could come here, mix and mingle with gangsters like "Toggie" and "Bobo" who seemingly have unlimited access to the second highest elected official in the country, and you are not disgusted and appalled and embarrassed as a Bahamian makes me sick to my stomach. Nygard is white trash and should be run from this country. He has undermined the integrity of our Government! They should all GO!
On PM 'promised' land to Nygard
Posted 11 March 2016, 9:19 a.m. Suggest removal
Weezie says...
Everybody beating up the Goverment about crime. But no one offers a solution. What are we to do.
Getting rid of the PLP and replacing them with the FNM will not solve the problem of crime.
Start talking about the solutions because politicians are not the brightest cookies in the cookie jar and they need help.
The bottom line is over 50% of our population are D- and below and they have no broughtupsy! They are unemployable! Dumb, dumb, dumb. So when they have no education, they cannot find a job! So they turn to crime to survive!
Are we prepared to reduce class sizes, lengthen the school year, import a whole load of qualified foreign teachers from English speaking first world countries, get rid of automatic advancement for kids who should not be advanced, increase the subsidy to private schools so they can offer more scholarships to deserving kids, etc etc etc and then raise taxes significantly to pay for this! If not, the situation will only get worse no matter who is in charge AND you all know that!
On Wilchcombe: Murder record is a disgrace
Posted 11 November 2015, 7:44 p.m. Suggest removal
Weezie says...
Do you remember when Perry and his band of merry men promised us that if we brought the liquidation home, Baha Mar would be open for Christmas?
They fought tooth and nail to stop the Chapter 11 process. Mitchell told us that Izmirlian should be deported since he was destroying our economy. Christie said that he was mentally unstable and Shane Gibson said that all future foreign direct investors should undergo psychological testing.
They promised us over and over again that all would be good if we trusted them. The Chinese were our friends and would look after us. They would make this project happen.
Well, it was all lies, lies, lies! I hear Izmirlian is OUT! The Chinese are refusing to put any more money in and nothing is going according to plan. It is one big f**** disaster! They should have stuck with the Chapter 11 plan! At least, the developer would have put in the money to keep the project going, the restructuring process would have been complete by now, and Bahamians would have been paid and back to work finishing the project.
But no! Their love affair with the Chinese was too intense. Too close and too intimate! And look a good sweat heart, the Chinese screwed them!
On 2,000 redundancies at Baha Mar after Supreme Court ruling
Posted 22 October 2015, 5:38 p.m. Suggest removal
Weezie says...
SP - why are you so vicious? You could say what you want to say without all the black/white bulls**t. So unnecessary and it only goes to how silly you really are and why it is so hard to reason with people like you! Mr. Myers makes a point and if you don't agree with his point.....fair enough......disagree with him. You don't have to carry on like a complete and utter ass!
Anyway, per your reference to the relevant section in the VAT, it really depends if your company is using the accrual method of accounting or the cash method of accounting.
If you are using the accrual method, you have to record the sale when it is made NOT when it is paid. In this instance, VAT would become due and payable when you record the sale. This leads to the cash flow issues that Mr. Myers referred to since if your customer does not pay you before the VAT becomes due then you have to dig in your pocket and find the money to pay the VAT yourself and hope you will get it back when your customer finally pays you.
If you are using the cash method, you record the sale when it is paid. You are right, there are no cash flow issues here since the customer pays you......before you have to pay the VAT to the government.
However, almost all large businesses are required by the VAT department to use the Accrual Method of Accounting (since this is what they have to use to generate their financial statements). Smaller businesses can use the Cash Method of Accounting since it is not as complicated as the Accrual Method and is probably the method being used by them anyway. It was felt that the easier you make it for the business to account for its sales, then the higher the compliance rate on VAT payments!
Bottom line: Under the Accrual Method, Mr. Myers is right......there are cash flow concerns! Under the Cash Method, you are right.....there are no cash flow concerns!
Let's leave it at that and move on!
On Bahamians warned: Brace for post-VAT delinquency cut-off
Posted 17 May 2015, 8:45 a.m. Suggest removal
Weezie says...
I hate when people talk and are so mis-informed. SP spends so much mindless energy attacking Robert Myers that his very first comment was total and absolute horse s**t. VAT is payable when you bill a customer....not when they pay. And that is causing cash flow problems for businesses. I run a business (clearly, unlike SP) and that is causing a cash flow problem for me. Bottom line: Robert Myers is right and you are totally and completely wrong. So, I suggest you shut up until you know what you are talking about. Mr. Myers keep talking your talk! I know that you were at the table when VAT was being introduced and you fought long and hard for us business people! I certainly hope you pay no attention to those retards who speak on subjects they know nothing about.
On Bahamians warned: Brace for post-VAT delinquency cut-off
Posted 16 May 2015, 7:54 p.m. Suggest removal
Weezie says...
What? You think Bahamians clean better than haitians and jamaicans. Get serious! Say what you want about Superwash D'Aguilar has blown his competition out of the water! And he keeps expanding! You see his new location on Charles Saunders Highway? His mouth may be big but he puts his money in The Bahamas and employs people! And he does NOT cost you or I (the taxpayer) one dollar. Put healthcare in the hands of our bozo politicians and they will bankrupt it like everything else they run on behalf of us all.
On ‘No way on God’s green earth’ can Gov’t operate NHI
Posted 17 March 2015, 2:18 a.m. Suggest removal