In any civilised jurisdiction a business licence is not based on turnover. There is a yearly fixed fee for the type of business. The current situation is an impediment to ease of doing business. I have clients from North America who transact over a million in turnover and pay a business licence of less than $1000. There is no income tax in the Bahamas, but I am convinced that it is one of the most highly taxed jurisdictions in the world when you consider overall tax dollars paid to the government.
I really take exception to your wording of "factual outcomes" of the Commission of Inquiry. It was a farce from the beginning to end, and it is a shameful chapter in Bahamian history.
The Kerry Commission established the guilt of all with the testimony of Gorman Bannister. Mr. Smith cannot exorcise the taint of criminality no matter how hard that he tries, because it is the truth. Smith, Pindling and the PLP are all on the wrong side of history, and nothing can change that. They sold the country for filthy lucre and we are reaping the sins of the father. Smith is still part of the problem, and the only value he adds is that of entertainment or an example of human perfidy.
Some of my financial models show a Dow Jones decline of 25% down to 12500 from its current 16500, coming in the 2017 time frame. But that is only in some fintech models. Most other models are optimistic for North America (essentially US, Canada & Mexico).
The recent job numbers in the US were pretty fantastic and new car sales in North America had a all-time record year.
The US GDP is expected to rise by a respectable 2.7%. Unemployment will fall to 4.6%. Single family homes will go up 16% in 2016. Core inflation will rise by 2.4% -- inflation of about 2% is considered healthy.
The hallmark of these times is unevenness. Just because some sectors are doing well, doesn't mean that everyone is doing well. The middle class is being squeezed. In this 4th Industrial Revolution, the knowledge workers command the high salaries, while almost every non-professional job will probably see a decline in wages and standard of living -- especially with inflation going from 0.7% to 2,4%
Interest rates will rise, and coupled with inflation, the Bahamian government debt will be more difficult to service because of it. It will bite more and more into general revenues, and the current level of deficits is unsustainable.
If NHI becomes a reality, it will probably be the straw that breaks the camels back in two ways. First of all, doctors and pharmacists will make less money, and there is the potential for a brain drain with doctors leaving. There are doctor shortages in select parts of North America (Canada for one). Secondly with the payroll tax or whatever means they come up to fund it, many mid to large businesses will either cut back or leave. I know of two or three major business owners who have been looking to relocate since 2010, and some of them have actively taken steps to figure out how to export dollars to Florida or the Caymans through various means.
While the US may enjoy better economic times, the same is not true for the Bahamas. With bellwether indicators up, many Americans will start taking vacations to more exotic places than the Bahamas. There will be a decline of stop-over visitors and probably cruise ship tourists. Unemployment will rise due to VAT effects showing up as well as more taxation for NHI. The government shows no sign of being able to control its deficit spending, and there is a very real threat of rating agency downgrade to junk status, making it totally impossible for the government to borrow money without high, high interest rates, if there are takers for its fiat bonds.
From an economics point of view, it really doesn't look good for the Bahamas, and no one in the government seems to give a damn.
Sigh, Brad The Bescumber, the voice of the active PLP microphallus proves that he is a coccydynia to Bahamas society with his buncombe utterings, acute odiferous hercismus and his offensiveness as a PLP cacafuego.
If you want an example of PLP sub-human, Bradley Roberts is it.
banker says...
Naw, dems jest want to erase da Fisherman influence, especially his "son" from the other side of the blanket .... wink ... wink ...
On Former MP blasts FNM council changes
Posted 14 January 2016, 8:39 p.m. Suggest removal
banker says...
More "dead good news"! What a sphincter wart!
On PM: Huge number of investors interested in Baha Mar
Posted 14 January 2016, 8:36 p.m. Suggest removal
banker says...
Concur ... window dressing.
On RBDF on patrol after jet ski alert
Posted 14 January 2016, 8:33 p.m. Suggest removal
banker says...
In any civilised jurisdiction a business licence is not based on turnover. There is a yearly fixed fee for the type of business. The current situation is an impediment to ease of doing business. I have clients from North America who transact over a million in turnover and pay a business licence of less than $1000. There is no income tax in the Bahamas, but I am convinced that it is one of the most highly taxed jurisdictions in the world when you consider overall tax dollars paid to the government.
On ‘Perfect storm’ fear on Business Licence
Posted 14 January 2016, 2:29 p.m. Suggest removal
banker says...
I really take exception to your wording of "factual outcomes" of the Commission of Inquiry. It was a farce from the beginning to end, and it is a shameful chapter in Bahamian history.
On GEORGE SMITH: My right to fairness
Posted 14 January 2016, 2:19 p.m. Suggest removal
banker says...
The Kerry Commission established the guilt of all with the testimony of Gorman Bannister. Mr. Smith cannot exorcise the taint of criminality no matter how hard that he tries, because it is the truth. Smith, Pindling and the PLP are all on the wrong side of history, and nothing can change that. They sold the country for filthy lucre and we are reaping the sins of the father. Smith is still part of the problem, and the only value he adds is that of entertainment or an example of human perfidy.
On GEORGE SMITH: My right to fairness
Posted 14 January 2016, 11:32 a.m. Suggest removal
banker says...
I don't think so. You need to take too many showers after being in his presence. He and Frankie da Snake are birds of a feather.
On Roberts mocks FNM candidates
Posted 13 January 2016, 3:40 p.m. Suggest removal
banker says...
You don't want his ethics though.
The barking adage though is correct about Mad Brad. If you are a junkyard dog, you assume that that's what life is: chained up, barking all day.
On Roberts mocks FNM candidates
Posted 13 January 2016, 10:36 a.m. Suggest removal
banker says...
Some of my financial models show a Dow Jones decline of 25% down to 12500 from its current 16500, coming in the 2017 time frame. But that is only in some fintech models. Most other models are optimistic for North America (essentially US, Canada & Mexico).
The recent job numbers in the US were pretty fantastic and new car sales in North America had a all-time record year.
The US GDP is expected to rise by a respectable 2.7%. Unemployment will fall to 4.6%. Single family homes will go up 16% in 2016. Core inflation will rise by 2.4% -- inflation of about 2% is considered healthy.
The hallmark of these times is unevenness. Just because some sectors are doing well, doesn't mean that everyone is doing well. The middle class is being squeezed. In this 4th Industrial Revolution, the knowledge workers command the high salaries, while almost every non-professional job will probably see a decline in wages and standard of living -- especially with inflation going from 0.7% to 2,4%
Interest rates will rise, and coupled with inflation, the Bahamian government debt will be more difficult to service because of it. It will bite more and more into general revenues, and the current level of deficits is unsustainable.
If NHI becomes a reality, it will probably be the straw that breaks the camels back in two ways. First of all, doctors and pharmacists will make less money, and there is the potential for a brain drain with doctors leaving. There are doctor shortages in select parts of North America (Canada for one). Secondly with the payroll tax or whatever means they come up to fund it, many mid to large businesses will either cut back or leave. I know of two or three major business owners who have been looking to relocate since 2010, and some of them have actively taken steps to figure out how to export dollars to Florida or the Caymans through various means.
While the US may enjoy better economic times, the same is not true for the Bahamas. With bellwether indicators up, many Americans will start taking vacations to more exotic places than the Bahamas. There will be a decline of stop-over visitors and probably cruise ship tourists. Unemployment will rise due to VAT effects showing up as well as more taxation for NHI. The government shows no sign of being able to control its deficit spending, and there is a very real threat of rating agency downgrade to junk status, making it totally impossible for the government to borrow money without high, high interest rates, if there are takers for its fiat bonds.
From an economics point of view, it really doesn't look good for the Bahamas, and no one in the government seems to give a damn.
On Guests at the Cove warned about jet skis
Posted 12 January 2016, 10:50 p.m. Suggest removal
banker says...
Sigh, Brad The Bescumber, the voice of the active PLP microphallus proves that he is a coccydynia to Bahamas society with his buncombe utterings, acute odiferous hercismus and his offensiveness as a PLP cacafuego.
If you want an example of PLP sub-human, Bradley Roberts is it.
http://tribune242.com/users/photos/2016…
On Roberts mocks FNM candidates
Posted 12 January 2016, 6:09 p.m. Suggest removal