> Mr. Halkitis said the government has > an implementation date of July 1, 2014 > but “we have to make sure everyone is > ready; we’re pushing hard towards that > target.” > > Explaining more on VAT Mr. Halkitis > said it is a multi-stage consumption > tax that acts largely like a sales > tax. It is not a regressive tax like > income tax. He said the government > would be exempting certain breadbasket > items, financial, medical and > educational services to minimize the > impact.
> And, while there would be an initial > negative reaction, Mr Bain said that > eventually Bahamian consumers will > become used to paying VAT within the > sales price, much like they have > become accustomed to US/Florida sales > taxes.
And again, another example of poor reasoning, pondering on 20 year old circumstances. That was before Amazon came about.If i buy an elephant from Amazon, I pay no sales taxes. The shipping and duty, costs turn out better than the travel costs and excess luggage charges, and I can beat the local prices by 30%-40%. I shop while resting on my weary bottom. like that woman who drives the volvo.
> registrants will effectively act as > vassal tax collectors for the Treasury
Excellent choice of words. The PLP attitude is that we are vassals anyway. prolly stupid vassals too.
> “For this reason, along with the > implementation, the Government bodies > responsible for price control should > increase their monitoring of business > prices to protect the final consumer > from price gouging by the business > community. “
Bad, bad reasoning, the list of price-controlled items is minuscule, and then you would have to live on a 99 cent breakfast menu.
Take deodorant, for example, it is duty - free, but not price-controlled. It was once dutiable, but i never saw the price of deodorant come down..
Some attractive deals are being offered by some gated communities which may be the investment of gambling money.
The caveat is that conveyances are postponed. I wonder if there are provisions in the law to protect those entering in these private mortgage or rent-to-own agreements. I doubt it.
Well, i think several businesses are doing that. But as the radio ad from the ministry of finance says, merchants are free to mark up their product as much as they want. Under VAT the govt would be happy, as they would collect more tax anyway.
I would be happy as a merchant:
Right now, a merchant marks up on 45% duty, i pay it.
As of July first, he will mark up on 45% (which by then will be vat + duty), i pay that plus 15% to the govt.
at the end of the day, the govt gets 30% , plus 15% on the markup, that will be more than 45%. The govt. is double dipping.
The merchant gets his 15% original VAT credit, but i paid 15% on the markup that included VAT. The merchants are triple dipping!!!!!
then they go around crying poor mouth about price controlled items!!!
ohdrap4 says...
I tried the VAT hotline several times, no one answered.
On Union backs hotline - but wants protection for bus drivers
Posted 19 February 2014, 12:53 p.m. Suggest removal
ohdrap4 says...
only restrictions I saw was on the court case involving 2 ministers of the word. that is a powder keg, so I understand.
BTW, have you ever seen anyone comment on the Guardian website? I submitted a couple of times, but never saw a comment posted.
Enjoy it here while you can.
On MP says time is running out to explain VAT to residents
Posted 19 February 2014, 12:49 p.m. Suggest removal
ohdrap4 says...
Halkitis sez: Don't worry, be happy in Abaco
> Mr. Halkitis said the government has
> an implementation date of July 1, 2014
> but “we have to make sure everyone is
> ready; we’re pushing hard towards that
> target.”
>
> Explaining more on VAT Mr. Halkitis
> said it is a multi-stage consumption
> tax that acts largely like a sales
> tax. It is not a regressive tax like
> income tax. He said the government
> would be exempting certain breadbasket
> items, financial, medical and
> educational services to minimize the
> impact.
Explain how income tax is regressive please!
[link text][1]
[1]: http://www.theabaconian.com/2014/02/04/…
On MP says time is running out to explain VAT to residents
Posted 19 February 2014, 12:46 p.m. Suggest removal
ohdrap4 says...
What shortage of flight controllers?
Last summer they were advertising for trainee flight controllers for the ABACO airport.
Starting salary: $10,700 with $300 increment to $18,000.
Hurry up, seats are limited.
On Christie calls for airspace millions for Bahamas
Posted 19 February 2014, 10:46 a.m. Suggest removal
ohdrap4 says...
Ah Venice Venice
On The hotel room where you can swim to the door
Posted 17 February 2014, 3:36 p.m. Suggest removal
ohdrap4 says...
> And, while there would be an initial
> negative reaction, Mr Bain said that
> eventually Bahamian consumers will
> become used to paying VAT within the
> sales price, much like they have
> become accustomed to US/Florida sales
> taxes.
And again, another example of poor reasoning, pondering on 20 year old circumstances.
That was before Amazon came about.If i buy an elephant from Amazon, I pay no sales taxes.
The shipping and duty, costs turn out better than the travel costs and excess luggage charges, and I can beat the local prices by 30%-40%.
I shop while resting on my weary bottom. like that woman who drives the volvo.
On Bahamas '20 years too late' with VAT
Posted 17 February 2014, 12:59 p.m. Suggest removal
ohdrap4 says...
> registrants will effectively act as
> vassal tax collectors for the Treasury
Excellent choice of words. The PLP attitude is that we are vassals anyway. prolly stupid vassals too.
> “For this reason, along with the
> implementation, the Government bodies
> responsible for price control should
> increase their monitoring of business
> prices to protect the final consumer
> from price gouging by the business
> community. “
Bad, bad reasoning, the list of price-controlled items is minuscule, and then you would have to live on a 99 cent breakfast menu.
Take deodorant, for example, it is duty - free, but not price-controlled. It was once dutiable, but i never saw the price of deodorant come down..
On Bahamas '20 years too late' with VAT
Posted 17 February 2014, 12:51 p.m. Suggest removal
ohdrap4 says...
bad idea to post your email here, the hackers will steal it.
On Prosecution for businesses if they charge VAT before it is law
Posted 15 February 2014, 9:32 p.m. Suggest removal
ohdrap4 says...
Some attractive deals are being offered by some gated communities which may be the investment of gambling money.
The caveat is that conveyances are postponed. I wonder if there are provisions in the law to protect those entering in these private mortgage or rent-to-own agreements. I doubt it.
On Web shops spark 'blacklist' fear
Posted 15 February 2014, 5:44 p.m. Suggest removal
ohdrap4 says...
Well, i think several businesses are doing that.
But as the radio ad from the ministry of finance says, merchants are free to mark up their product as much as they want. Under VAT the govt would be happy, as they would collect more tax anyway.
I would be happy as a merchant:
Right now, a merchant marks up on 45% duty, i pay it.
As of July first, he will mark up on 45% (which by then will be vat + duty), i pay that plus 15% to the govt.
at the end of the day, the govt gets 30% , plus 15% on the markup, that will be more than 45%. The govt. is double dipping.
The merchant gets his 15% original VAT credit, but i paid 15% on the markup that included VAT. The merchants are triple dipping!!!!!
then they go around crying poor mouth about price controlled items!!!
I am stocking up, I am stocking up.
On Prosecution for businesses if they charge VAT before it is law
Posted 15 February 2014, 10:27 a.m. Suggest removal