I wish the Press, government and financial industry participants would stop fixating on carving out laws to circumvent and assist global citizens in minimizing their legitimate home country tax.
A low corporate tax of 3 to 5% is laughable when the developed world income tax rate is 17 to 30%. Its the same nonsense as foreigners getting permanent residency tax certificates by only living in the Bahamas for 90 days when the developed world standard is 183 days. Just who do they think they are fooling. We have just designated ourselves as a nation for sale to rich ppl.
Have any of these professionals and government officials lived in the US or Canada and worked with their financial systems just to see how technologically and legally backwards we are? How backwards our ACH transfers, credit bureau/scores, probate, trust, tax, exchange controls, regulators, securities trading, zero access to global markets for the average person etc are?
The Bahamas needs to focus on improving the financial access to average Bahamians.
Without an open, efficient and low cost financial system we will never solve unemployment, staggering government debt, crime, D level education because the financial system jams everything up. Banks and the government charge almost 5% just to wire money to the US. By the you add in VAT, VAT on duty, shipping etc. ppl are only buying the cheapest, low quality Chinese products including now food and drinks which are making the average person sick.
Proudloudman. So the governments Dorian count of missing persons is correct?
Extracting sand from the sea bed for sale doesn’t cause coastal erosion.
Drilling for oil in our pristine oceans is safe?
Cutting down hills in Nassau doesn’t cause flooding?
Bunker C diesel used by BEC and Shell is environmentally friendly?
Borrowing $600 million for more polluting diesel generators is prudent?
Building up the cruise port in Nassau is sound environmentally?
Selling hundreds of acres of Lighthouse Beach to Disney for a couple of jobs and cruise ship per head tax is a fundamentally sound way to develope Eleuthera with no need for schools, parks, roads, utilities etc?
With these types of development let’s not be shocked that so much foreign labor needs to be imported...because the government is not investing in Bahamians for decades.
Well said. Don.t forget as you suck oil from under the islands more earthquakes and flooding will occur.
Also the massive sale of our sand in the seabed is contributing to sinking islands, flooding.
Also cutting down hills for fill is causing flooding.
I guess we will be like the ppl in Noah’s day and learn nothing from the 30 feet of water from Dorian in Freeport and Abaco.
The government from not acknowledging the true level of ppl lost in Dorian and silence on the oil drilling says they really don’t care about the future of our children.
Excellent article in the NY Times detailing how China's dictatorial regime suppressed information about the coronavirus while it was in its infancy and could be contained.
observer2 says...
Wow didn’t know RPT bills could be that high for a piece of scrubby out Island.
I guess he will soon shut it down due to Dorian, VAT, government nonsense.
25 Bahamians will loose their jobs.
But Minnis say full employment comin, so don’t sweat the small stuff.
Anudder foreigner get swing. Plenty more where he come from. Ain no shortage a money and fools.
If da deal less dan $100 million don’t complain when you get gossey.
On Magic man David Copperfield in fight over $2m property tax bill
Posted 17 February 2020, 9:35 a.m. Suggest removal
observer2 says...
Thanks for input Porcupine. Unfortunately, no one in government, banking or multi nationals are listening.
Most ppl are not even looking at these blogs which have some very valuable input.
Many time I just feel like deleting my blogging input because it seems to be a complete waste of time.
On 'Slow, painful death' without corporate tax
Posted 10 February 2020, 1:28 p.m. Suggest removal
observer2 says...
You never hear Cable Bahamas castigate their workers. Never read about how bad Cable Bahamas workers are.
On Gibson: Hurricane workers were abusing overtime
Posted 7 February 2020, 6:37 p.m. Suggest removal
observer2 says...
It is so disgraceful having elected politicians castigate the voters who elected them while running a loss making government owned utility.
In all 7 of the G7 developed democracies utilities were run by private industry over 50 years ago.
On Gibson: Hurricane workers were abusing overtime
Posted 7 February 2020, 6:31 p.m. Suggest removal
observer2 says...
Another small poorly capitalized financial institution structured and approved to fail set to in about 5 to 10 years.
On Bahamas bank in managers buy-out
Posted 7 February 2020, 5:59 p.m. Suggest removal
observer2 says...
I wish the Press, government and financial industry participants would stop fixating on carving out laws to circumvent and assist global citizens in minimizing their legitimate home country tax.
A low corporate tax of 3 to 5% is laughable when the developed world income tax rate is 17 to 30%. Its the same nonsense as foreigners getting permanent residency tax certificates by only living in the Bahamas for 90 days when the developed world standard is 183 days. Just who do they think they are fooling. We have just designated ourselves as a nation for sale to rich ppl.
Have any of these professionals and government officials lived in the US or Canada and worked with their financial systems just to see how technologically and legally backwards we are? How backwards our ACH transfers, credit bureau/scores, probate, trust, tax, exchange controls, regulators, securities trading, zero access to global markets for the average person etc are?
The Bahamas needs to focus on improving the financial access to average Bahamians.
Without an open, efficient and low cost financial system we will never solve unemployment, staggering government debt, crime, D level education because the financial system jams everything up. Banks and the government charge almost 5% just to wire money to the US. By the you add in VAT, VAT on duty, shipping etc. ppl are only buying the cheapest, low quality Chinese products including now food and drinks which are making the average person sick.
On 'Slow, painful death' without corporate tax
Posted 7 February 2020, 5:41 p.m. Suggest removal
observer2 says...
Proudloudman. So the governments Dorian count of missing persons is correct?
Extracting sand from the sea bed for sale doesn’t cause coastal erosion.
Drilling for oil in our pristine oceans is safe?
Cutting down hills in Nassau doesn’t cause flooding?
Bunker C diesel used by BEC and Shell is environmentally friendly?
Borrowing $600 million for more polluting diesel generators is prudent?
Building up the cruise port in Nassau is sound environmentally?
Selling hundreds of acres of Lighthouse Beach to Disney for a couple of jobs and cruise ship per head tax is a fundamentally sound way to develope Eleuthera with no need for schools, parks, roads, utilities etc?
With these types of development let’s not be shocked that so much foreign labor needs to be imported...because the government is not investing in Bahamians for decades.
On DRILLING ON OFFSHORE PLATFORM IMMINENT
Posted 3 February 2020, 3:33 p.m. Suggest removal
observer2 says...
What about the 10,000 cruise ship visitors everyday?
On China virus - nine now placed in quarantine
Posted 3 February 2020, 3:20 p.m. Suggest removal
observer2 says...
Well said. Don.t forget as you suck oil from under the islands more earthquakes and flooding will occur.
Also the massive sale of our sand in the seabed is contributing to sinking islands, flooding.
Also cutting down hills for fill is causing flooding.
I guess we will be like the ppl in Noah’s day and learn nothing from the 30 feet of water from Dorian in Freeport and Abaco.
The government from not acknowledging the true level of ppl lost in Dorian and silence on the oil drilling says they really don’t care about the future of our children.
On DRILLING ON OFFSHORE PLATFORM IMMINENT
Posted 3 February 2020, 9:41 a.m. Suggest removal
observer2 says...
Excellent article in the NY Times detailing how China's dictatorial regime suppressed information about the coronavirus while it was in its infancy and could be contained.
https://www.nytimes.com/2020/02/01/worl…
On Coronavirus: Minister meets with families of Bahamians living in China
Posted 1 February 2020, 1:31 p.m. Suggest removal