Bit by bit information is coming out....looks like the insurance quote was from RoyalStar Assurance, who is the beneficial owner of the insurance company?
What was the value of the construction project under the insurance quote?
Why did the value to reconstruct the building go up so much?
Was the contract under bid?
With no Freedom of Information Act you can't really see who all of the "related parties" are.
Who was the attorney for the Contractor? Who was the attorney for the Government.
Did the Contract have all of his business licenses up to date?
Did the contractor have public liability insurance?
What other contracts did the Contractor get during the last 20 years?
Was the contract put up for competitive bid?
Understand from one of the big Bay Street contractors that they have been essentially shut out of the market because nothing is coming up for competitive bid.
Who are the sub contractors?
At this rate all of the VAT they are collecting will be wasted. But I guess certain people will stop paying the VAT like they stop paying BEC, Water, Telephone, Real Property Tax, Customs duty Etc. Etc. Etc. Lets see how collections are going in one year
I have every confidence that the Government will come to the bottom of this and the dorm will be rebuilt for our young Bahamians to live in. Once done we will be able to grow our own food and feed the nation!
I am sure that once they have found the insurance policy they will find that it was an unfortunate oversight.
The contractor also said he will find the funds to rebuild. Let give him some time to get the dorm rebuilt.
Let put our full support behind Bamsi and the Bahamian Government!
I am sure that the government will be as successful in collecting VAT over the long term as it has been in collecting real property tax etc. Also the funds collected will pay down the debt quickly. We don't need for the government to make any changes in transparency, I trust completely what they are telling me.
Once VAT becomes effective January 1, 2015 expect to see the an increase in mortgage delinquencies show up in the statistics during the latter half of 2015. Its simple economics 101, when government taxes are increased the supply and demand of goods and services in the private economy declines. Taxes are a non productive use of funds especially in a no growth economy like the Bahamas.
Bahamians at the margin (the poor) will need to decide between a mortgage payment and groceries. With the temptation of making it rich in the legalized numbers house always in the back of their minds, it is a recipe for additional misery.
You have a point. Finding credible professionals, sympathetic, controllable and who have paid all of their taxes maybe challenging. Maybe they can being back some retired persons to fill the roll.
observer2 says...
BOB on dey own...correspondent will accept deposits until they stop
On Canadian banks stand firm on web shop bar
Posted 18 March 2015, 4:41 p.m. Suggest removal
observer2 says...
The government stopping foreigners taking advantage of the Bahamas???
Ha, ha, ha, ha, ha
On Dive operators demand ban on foreign vessels
Posted 18 March 2015, 4:12 p.m. Suggest removal
observer2 says...
even more insurance money for Franki's insurance company
On Remaining BAMSI contracts being vetted by officials
Posted 18 March 2015, 4:10 p.m. Suggest removal
observer2 says...
Bit by bit information is coming out....looks like the insurance quote was from RoyalStar Assurance, who is the beneficial owner of the insurance company?
What was the value of the construction project under the insurance quote?
Why did the value to reconstruct the building go up so much?
Was the contract under bid?
With no Freedom of Information Act you can't really see who all of the "related parties" are.
Who was the attorney for the Contractor? Who was the attorney for the Government.
Did the Contract have all of his business licenses up to date?
Did the contractor have public liability insurance?
What other contracts did the Contractor get during the last 20 years?
Was the contract put up for competitive bid?
Understand from one of the big Bay Street contractors that they have been essentially shut out of the market because nothing is coming up for competitive bid.
Who are the sub contractors?
At this rate all of the VAT they are collecting will be wasted. But I guess certain people will stop paying the VAT like they stop paying BEC, Water, Telephone, Real Property Tax, Customs duty Etc. Etc. Etc. Lets see how collections are going in one year
On Deputy PM ‘misled’ Parliament over BAMSI
Posted 12 March 2015, 3:20 p.m. Suggest removal
observer2 says...
Dis black on black hate has to stop. I am happy for Bowe and wish him all the best!
On Minnis wants clarity over Bowe payments
Posted 11 March 2015, 5:49 p.m. Suggest removal
observer2 says...
Carnival will be a great success for the Bahamas!
On Pintard blasts failure to reveal headline act
Posted 11 March 2015, 5:47 p.m. Suggest removal
observer2 says...
I have every confidence that the Government will come to the bottom of this and the dorm will be rebuilt for our young Bahamians to live in. Once done we will be able to grow our own food and feed the nation!
I am sure that once they have found the insurance policy they will find that it was an unfortunate oversight.
The contractor also said he will find the funds to rebuild. Let give him some time to get the dorm rebuilt.
Let put our full support behind Bamsi and the Bahamian Government!
On BAMSI repairs to start when insurance issues resolved
Posted 11 March 2015, 5:32 p.m. Suggest removal
observer2 says...
I am sure that the government will be as successful in collecting VAT over the long term as it has been in collecting real property tax etc. Also the funds collected will pay down the debt quickly. We don't need for the government to make any changes in transparency, I trust completely what they are telling me.
On First VAT returns: ‘Much comfort’ on $300m goal
Posted 11 March 2015, 5:23 p.m. Suggest removal
observer2 says...
Once VAT becomes effective January 1, 2015 expect to see the an increase in mortgage delinquencies show up in the statistics during the latter half of 2015. Its simple economics 101, when government taxes are increased the supply and demand of goods and services in the private economy declines. Taxes are a non productive use of funds especially in a no growth economy like the Bahamas.
Bahamians at the margin (the poor) will need to decide between a mortgage payment and groceries. With the temptation of making it rich in the legalized numbers house always in the back of their minds, it is a recipe for additional misery.
On 25% of mortgage credit ‘past due’
Posted 3 December 2014, 5:45 p.m. Suggest removal
observer2 says...
You have a point. Finding credible professionals, sympathetic, controllable and who have paid all of their taxes maybe challenging. Maybe they can being back some retired persons to fill the roll.
On Gov’t ‘well past expiry’ over VAT Comptroller naming
Posted 1 December 2014, 5:15 p.m. Suggest removal