Based on the article in the link below every stage of oil production causes serious health problems which the people of Pinder's Point and Lewis Yard Grand Bahama are well aware of over the last half a century.
Why do you think the residence of Florida have rejected offshore oil drilling? Why do you think Oban wants to process low grade sulfur rich very high pollution fuels in a jurisdiction with zero expertise in oil regulation? Why does Oban with no clear financial backing and an opaque Trust structure with no real beneficial class want to deal with our government who are novices in large scale chemical plants and international transactions?
Why would the government of the Bahamas subject the people of East Grand Bahama to health hazards when our hospitals are stretched to the breaking point? Its like they don't care about people or the environment. Only the almighty US dollar.
sealice, the above statement Carl, is clear and concise and if implemented correctly will put us on the right path. However, I agree with you, through no fault of their own we are dealing with a medical doctor as head of state and a minister of finance who was a local business man.
They are simply outside of their depth. As with the Oban deal, they have no idea that they have no idea as to what to do. Just like Halkitas implementing VAT with no additional government checks and balances.
Neither of them ever did a global transaction before and probably didn't even know what a trust or IBC actually was before they came to power. They are on a steep learning curve.
At the end of the day, the billion or so dollars raised through the income tax will have no impact on the deficit or anything else for the matter.
Finally, finally someone in government is talking straight to the Bahamian people on what the EU is requiring....the two way movement of capital (dismantling of exchange controls, Bahamians will be able to invest outside the country as well) and the elimination of ring fenced industries reserved for Bahamians (I mean Bahamian elites/government eg. oil importation, electrical generation, ports, legal, accounting and retail). While they are at it they need to get rid of these dreadful Heads of Agreement deals giving away our land, sea and taxes to a single individual (normally some shady individual). Happy to see they are not going to sell anymore crown land Bahamian cays so foreigners can destroy them and take them out of reach of Bahamians like a gated community (unless you are there to mow the lawn).
So guys. The implementation of “corporate” income tax will not get the Bahamas off the blacklist so stop trying to spin the narrative similar to the first blacklist in 2000. The EU will not accept an isolated tax trick.
All that would happen is that the rich will simply move thier assets to trusts, foundations and to thier individual names to avoid the tax.
Then the offshore industry will creat a hybrid human foundation which has the benefits of a corporation but pay no taxes.
Tal, what do you think about legalizing the Shanty Towns in the same manner that we dealt with the Web Shops which created a massive industry.
They would be called Shanty Free Trade Economic Empowerment Zone.
Nothing much would be changed but it would essentially legalize the non payment of VAT, no business license fees, the ability to generate and sell electricity, water and internet.
With the revenue the Shanty merchants generate they would be required to reinvest thier massive profits in rental units built to code.
It would be a big win for the FNM like the webshops were for the PLP!
The shanty towns exist because they are providing low cost labor to the business community, foreign residence and gated communities that are populated by millionaires and the elites.
Government is complicit by the issuance of work permits to persons that actually reside in shanty towns. Government also subsidizes the special interest by providing free education and health care to the unfortunate and exploited working class.
It’s a simple fix but no politician will touch it due to the special interests that control the politician.
Stop issuing work permits unless an individual has a proper and inspected place to live. Ahhh, there is the conflict. How much revenue does the government and intermediaries make off of work permits?
It’s always hard to solve a problem you really don’t want want to solve.
observer2 says...
Based on the article in the link below every stage of oil production causes serious health problems which the people of Pinder's Point and Lewis Yard Grand Bahama are well aware of over the last half a century.
Why do you think the residence of Florida have rejected offshore oil drilling? Why do you think Oban wants to process low grade sulfur rich very high pollution fuels in a jurisdiction with zero expertise in oil regulation? Why does Oban with no clear financial backing and an opaque Trust structure with no real beneficial class want to deal with our government who are novices in large scale chemical plants and international transactions?
Why would the government of the Bahamas subject the people of East Grand Bahama to health hazards when our hospitals are stretched to the breaking point? Its like they don't care about people or the environment. Only the almighty US dollar.
http://en.hesperian.org/hhg/A_Community…
On Dhunna defends Oban to split GB audience
Posted 23 March 2018, 10:45 a.m. Suggest removal
observer2 says...
sealice, the above statement Carl, is clear and concise and if implemented correctly will put us on the right path. However, I agree with you, through no fault of their own we are dealing with a medical doctor as head of state and a minister of finance who was a local business man.
They are simply outside of their depth. As with the Oban deal, they have no idea that they have no idea as to what to do. Just like Halkitas implementing VAT with no additional government checks and balances.
Neither of them ever did a global transaction before and probably didn't even know what a trust or IBC actually was before they came to power. They are on a steep learning curve.
At the end of the day, the billion or so dollars raised through the income tax will have no impact on the deficit or anything else for the matter.
Nothing will change.
On Corporate taxation on the way for Bahamas
Posted 22 March 2018, 5:02 p.m. Suggest removal
observer2 says...
Finally, finally someone in government is talking straight to the Bahamian people on what the EU is requiring....the two way movement of capital (dismantling of exchange controls, Bahamians will be able to invest outside the country as well) and the elimination of ring fenced industries reserved for Bahamians (I mean Bahamian elites/government eg. oil importation, electrical generation, ports, legal, accounting and retail). While they are at it they need to get rid of these dreadful Heads of Agreement deals giving away our land, sea and taxes to a single individual (normally some shady individual). Happy to see they are not going to sell anymore crown land Bahamian cays so foreigners can destroy them and take them out of reach of Bahamians like a gated community (unless you are there to mow the lawn).
Well done!
On Corporate taxation on the way for Bahamas
Posted 22 March 2018, 3:41 p.m. Suggest removal
observer2 says...
The word is already out. The only investors we can attract now is Oban style.
On Sarkis: ‘No good cause’ to halt my $2.25bn suit
Posted 22 March 2018, 10:20 a.m. Suggest removal
observer2 says...
Baha style duplicity at its best. Even his own director, formerly a harsh critic of the current owners, once he got in power, switch on him.
A lesson for all about politicians.
On Sarkis: ‘No good cause’ to halt my $2.25bn suit
Posted 22 March 2018, 10:19 a.m. Suggest removal
observer2 says...
Why do the same old people who should be retired always get the international exposure?
Why not send some fresh young people.
No wonder any young people who have the opportunity never return after being educated international.
No opportunities for them here.
On Bostwick to lead observers at Antigua and Barbuda vote
Posted 22 March 2018, 10:14 a.m. Suggest removal
observer2 says...
So guys. The implementation of “corporate” income tax will not get the Bahamas off the blacklist so stop trying to spin the narrative similar to the first blacklist in 2000. The EU will not accept an isolated tax trick.
All that would happen is that the rich will simply move thier assets to trusts, foundations and to thier individual names to avoid the tax.
Then the offshore industry will creat a hybrid human foundation which has the benefits of a corporation but pay no taxes.
On QC: ‘Very difficult’ to combat EU if no corporate tax
Posted 19 March 2018, 3:02 p.m. Suggest removal
observer2 says...
DKK, why should the poor pay taxes. obviously the rich foreigners are not paying them either. Isn’t that why we were blacklisted by the EU?
Seems like only the middle class Bahamians are paying!
On Foulkes sees urgency to solve shanty town crisis
Posted 19 March 2018, 2:36 p.m. Suggest removal
observer2 says...
Tal, what do you think about legalizing the Shanty Towns in the same manner that we dealt with the Web Shops which created a massive industry.
They would be called Shanty Free Trade Economic Empowerment Zone.
Nothing much would be changed but it would essentially legalize the non payment of VAT, no business license fees, the ability to generate and sell electricity, water and internet.
With the revenue the Shanty merchants generate they would be required to reinvest thier massive profits in rental units built to code.
It would be a big win for the FNM like the webshops were for the PLP!
On Foulkes sees urgency to solve shanty town crisis
Posted 19 March 2018, 2:17 p.m. Suggest removal
observer2 says...
The shanty towns exist because they are providing low cost labor to the business community, foreign residence and gated communities that are populated by millionaires and the elites.
Government is complicit by the issuance of work permits to persons that actually reside in shanty towns. Government also subsidizes the special interest by providing free education and health care to the unfortunate and exploited working class.
It’s a simple fix but no politician will touch it due to the special interests that control the politician.
Stop issuing work permits unless an individual has a proper and inspected place to live. Ahhh, there is the conflict. How much revenue does the government and intermediaries make off of work permits?
It’s always hard to solve a problem you really don’t want want to solve.
On Foulkes sees urgency to solve shanty town crisis
Posted 19 March 2018, 12:49 p.m. Suggest removal