What may seem like a ‘good deal’ is not always so and oftentimes results in substantial financial losses to the very folks (“the poor”) who can ill afford it. Government is supposed to protect the people, sometimes from themselves! Government also is supposed to protect our environment and no one can argue that “used cars”, no matter how good a deal, are more likely to be short lived and end up in our already crowded landfills (and bushes etc.), so ensuring that we get the best quality used cars before they are transported to the Bahamas is a win-win, regardless of what the ‘conspiracy theorists’ shout from the top of their I’ll-informed lungs😡
The Bahamas, land of the pirates then and now: That goes for this story, the previous articles as well as the happenings in our government and courts 🙄
Hopefully the new Cabinet will study our VAT objectively and fix those things that need to be adjusted, while strengthening those aspects that are working. If necessary we could have independent evaluators assess our VAT performance. This could include experts from New Zealand, who undoubtedly have the best performing vat (gst).
Otherwise Minnis would be wise to follow the advice of many astute economic observers: "leave well enough alone"...
Mr. Gowon Bowe, who is a very successful accountant and financial expert, has gotten his facts exactly right. His succinct arguments make perfect sense and is backed up by empirical evidence from the IMF paper and more importantly from our own Bahamian experience: VAT is a good idea and has been successful for what it was intended to do: collect taxes in a fair and honest way. It seems to me that VAT is victim of its own efficiency and success?!
Now that is not to say the there aren't things that need to be tweaked. Any policy put into practice needs to "adjust on the fly", and for it to be truly successful, needs to correct itself once put into action. The authorities need to make those adjustments to our VAT for it to be even fairer and better.
Those blaming the irrational excessive spending habits of "government" on VAT have misplaced their understandable anger. It would be like blaming your boss because you got drunk and crashed the car celebrating a huge raise. Our frustration needs to be directed at our politicians and those in government doing the spending (and stealing).
Dr. Minnis needs to get the cold facts on VAT and Mr. Bowe is someone without political affiliation who can give it to him. Although one wonders how much influence his very well informed candidates have on him on this point? D'Aguilar, Symonette, Lloyd, Sands et al?!
There is much to admire in Mr. Gomez' discussion points that I simply have to say "I concur".
Probably the greatest disaster from these commercial banks is that their policies stifle small business' growth and development. Although the insane "Red Tape" that successive Bahamian governments have tied up businesses with have been equally bad. So unfortunately it's probably a pipe dream to expect a government agency (the Central Bank) to rescue us from this morass.
Sorry, but that requires a referendum...and we've not shown the level of maturity to fix that (and other constitutional problems). In fact the previous HA government tried to increase the retirement age of justices in the early 2,000's, but that turned into a political "football" and was botched...
Agree though that Dame Anita represents a great example of why we'd want to increase the judges' retirement age so that professionals like her could be coaxed to soldier on.
You would be a breath of fresh air, especially if you clean house of many of those long "stealing" members of parliament, who've enriched themselves from the Public Purse to the extent that even they are too embarrassed to "declare" their ill gotten assets...sad!
empathy says...
What may seem like a ‘good deal’ is not always so and oftentimes results in substantial financial losses to the very folks (“the poor”) who can ill afford it. Government is supposed to protect the people, sometimes from themselves! Government also is supposed to protect our environment and no one can argue that “used cars”, no matter how good a deal, are more likely to be short lived and end up in our already crowded landfills (and bushes etc.), so ensuring that we get the best quality used cars before they are transported to the Bahamas is a win-win, regardless of what the ‘conspiracy theorists’ shout from the top of their I’ll-informed lungs😡
Think people...think!
On Pre-inspection offer sparks used auto price hike fears
Posted 5 January 2018, 3:14 p.m. Suggest removal
empathy says...
The Bahamas, land of the pirates then and now: That goes for this story, the previous articles as well as the happenings in our government and courts 🙄
On BISX welcomes new listing
Posted 18 August 2017, 11:21 p.m. Suggest removal
empathy says...
Great points "Observer2"!
Well said "John".
On Safe thought to be target in forklift raid
Posted 13 June 2017, 11:04 p.m. Suggest removal
empathy says...
Hopefully the new Cabinet will study our VAT objectively and fix those things that need to be adjusted, while strengthening those aspects that are working. If necessary we could have independent evaluators assess our VAT performance. This could include experts from New Zealand, who undoubtedly have the best performing vat (gst).
Otherwise Minnis would be wise to follow the advice of many astute economic observers: "leave well enough alone"...
On VAT tops ‘laundry list of complaints’
Posted 22 May 2017, 8:41 p.m. Suggest removal
empathy says...
Mr. Gowon Bowe, who is a very successful accountant and financial expert, has gotten his facts exactly right. His succinct arguments make perfect sense and is backed up by empirical evidence from the IMF paper and more importantly from our own Bahamian experience: VAT is a good idea and has been successful for what it was intended to do: collect taxes in a fair and honest way. It seems to me that VAT is victim of its own efficiency and success?!
Now that is not to say the there aren't things that need to be tweaked. Any policy put into practice needs to "adjust on the fly", and for it to be truly successful, needs to correct itself once put into action. The authorities need to make those adjustments to our VAT for it to be even fairer and better.
Those blaming the irrational excessive spending habits of "government" on VAT have misplaced their understandable anger. It would be like blaming your boss because you got drunk and crashed the car celebrating a huge raise. Our frustration needs to be directed at our politicians and those in government doing the spending (and stealing).
Dr. Minnis needs to get the cold facts on VAT and Mr. Bowe is someone without political affiliation who can give it to him. Although one wonders how much influence his very well informed candidates have on him on this point? D'Aguilar, Symonette, Lloyd, Sands et al?!
On More VAT exemptions call is ‘fool’s argument’
Posted 7 April 2017, 7:11 p.m. Suggest removal
empathy says...
There is much to admire in Mr. Gomez' discussion points that I simply have to say "I concur".
Probably the greatest disaster from these commercial banks is that their policies stifle small business' growth and development. Although the insane "Red Tape" that successive Bahamian governments have tied up businesses with have been equally bad. So unfortunately it's probably a pipe dream to expect a government agency (the Central Bank) to rescue us from this morass.
On Consumer chief to banks: ‘We can’t take all of this’
Posted 13 March 2017, 6:54 p.m. Suggest removal
empathy says...
Sorry, but that requires a referendum...and we've not shown the level of maturity to fix that (and other constitutional problems). In fact the previous HA government tried to increase the retirement age of justices in the early 2,000's, but that turned into a political "football" and was botched...
Agree though that Dame Anita represents a great example of why we'd want to increase the judges' retirement age so that professionals like her could be coaxed to soldier on.
On Dame Anita Allen announces retirement as President of the Court of Appeal
Posted 28 January 2017, 9:38 p.m. Suggest removal
empathy says...
While government is at it they can reduce and rationalize Custom Duty charges also!
On Auto chief: Raise VAT, end Business Licences
Posted 24 January 2017, 1:13 p.m. Suggest removal
empathy says...
I wish you all the best Mr. Sears!
You would be a breath of fresh air, especially if you clean house of many of those long "stealing" members of parliament, who've enriched themselves from the Public Purse to the extent that even they are too embarrassed to "declare" their ill gotten assets...sad!
On Passing baton 'not up to PM'
Posted 18 January 2017, 8:16 p.m. Suggest removal
empathy says...
BPL like BEC and the political hacks that are responsible for you..."you're fired!"
On BPL struggles to restore power to western New Providence
Posted 17 January 2017, 9:13 p.m. Suggest removal