Thanks to Mr Williams and his forthright comments, it would appear that we, the public, will end up paying not only 15% VAT on the basic premiums, but we will also be expected to pay for the extra expenses these companies suffer ????? Call me stupid, but that doesn't seem right.
Here was me thinking that we were all in this together, but the more information that dribbles out (not from Government, but from concerned businesses) the more it seems that 100% of the VAT burden will be foisted onto the shoulders of the man in the street. I'm not sure at my age that my shoulders are strong enough to support Government's pipe dreams and VAT folly.
October / November are the first months that we can all stop using air-conditioning or fans, as Summer wanes. I expect my bill to be at least 10% lower due to this fact alone So does BEC think we are stupid ?
It seems to me that the best, and only, forum for discussions on VAT is the Tribune's comments section !!
We have the same person being paraded before us (poor Mr. Rolle must have been a very naughty boy who got the short straw by having to become the Government's mouthpiece) and yet he spends all his time only refuting other peoples' opinions, without once telling us what VAT is actually all about and which products will be full rated, part rated, and exempt. Are basics like food going to be 15% more ? If so, that would hit every person hard.
Here's a thought.....what is to stop unscrupulous traders and self employed persons from charging the VAT (or just bumping up their prices by 15%, to cover tax they themselves incur) but never paying the increase over to the Treasury?
I only ask because we, as a nation, live basically on a cash system, no invoices, no questions asked. So if a plumber's hourly rate suddenly becomes $95 an hour, instead of $80, who is to say he is being honest? Let's face it, we don't use plumbers every day, so how will we know if the new rate he is charging is fair or not, honest or dishonest?
To say I am confused and angry about Government's lack of clarity is a big understatement
Value Added Tax will be charged on all goods and services which are re-sold to the next person in the line. Ultimately, all goods and services provided by companies with turnover over $100,000 will charge VAT to us the public, the very end users.
If Kelly's import goods at 0% import duty, but then sells those goods to someone else (me and you), they will have to charge the VAT 15%. The terrible thing is, Kelly's can recoup the VAT they charge against any VAT they incur from other suppliers. We, on the other hand, cannot. So Joe Public can expect to pay 15% more for most things. Government hasn't even told us yet whether VAT will be charged on food, electric. cable, liquor, clothing etc etc. It will be a nightmare.
And the reason why I include the word "services" is that, for example, insurance companies, who are not giving you anything tangible, are going to charge VAT on property insurance.
So, expect people to cut down on a lot of things when the excrement really hits the rotating mechanised implement
So far, all I've read and heard on the subject of VAT is what concerned businesses have to say. Why is the Government not able or willing to issue definitive statements yet on what will, and will not, attract this pernicious stealth tax ? In my opinion, it is because they have no clue, and instead they are waiting until they estimate the wrath of the public. Not a satisfactory state of affairs at all.
Surely it takes you longer to change your (obviously good) English way of spelling and writing into Bahamian "dialect" than it does to just type how you were taught to spell? I can never understand why my fellow commentators in the Tribune';s comment section insist on doing this.
watcher says...
Well said justthefacts. I can't say Christie is two-faced when it comes to gambling, as he seems to talk out of about 8 sides of his mouth.
On No casino visit for Bahamians
Posted 24 October 2013, 5:14 p.m. Suggest removal
watcher says...
Thanks to Mr Williams and his forthright comments, it would appear that we, the public, will end up paying not only 15% VAT on the basic premiums, but we will also be expected to pay for the extra expenses these companies suffer ????? Call me stupid, but that doesn't seem right.
Here was me thinking that we were all in this together, but the more information that dribbles out (not from Government, but from concerned businesses) the more it seems that 100% of the VAT burden will be foisted onto the shoulders of the man in the street. I'm not sure at my age that my shoulders are strong enough to support Government's pipe dreams and VAT folly.
On VAT to 'definitely increase' Bahamian insurance premiums
Posted 15 October 2013, 1:06 p.m. Suggest removal
watcher says...
Presumably Mr. Robinson, now a convicted felon, will not be allowed to enter the Bahamas again ?
On Actor and comedian accepts fine
Posted 10 October 2013, 10:14 a.m. Suggest removal
watcher says...
October / November are the first months that we can all stop using air-conditioning or fans, as Summer wanes. I expect my bill to be at least 10% lower due to this fact alone So does BEC think we are stupid ?
On 10% off electric bills this month
Posted 9 October 2013, 1:54 p.m. Suggest removal
watcher says...
What a surprise....a lawyer who rubs his hands in glee, while the average person will have to adjust to the cost of living increasing by 15%.
But then what should we expect, seeing as Parliament is made up of lawyers.
On Lawyer: I don't fear VAT.. It'll be a boost
Posted 9 October 2013, 1:49 p.m. Suggest removal
watcher says...
It seems to me that the best, and only, forum for discussions on VAT is the Tribune's comments section !!
We have the same person being paraded before us (poor Mr. Rolle must have been a very naughty boy who got the short straw by having to become the Government's mouthpiece) and yet he spends all his time only refuting other peoples' opinions, without once telling us what VAT is actually all about and which products will be full rated, part rated, and exempt. Are basics like food going to be 15% more ? If so, that would hit every person hard.
Here's a thought.....what is to stop unscrupulous traders and self employed persons from charging the VAT (or just bumping up their prices by 15%, to cover tax they themselves incur) but never paying the increase over to the Treasury?
I only ask because we, as a nation, live basically on a cash system, no invoices, no questions asked. So if a plumber's hourly rate suddenly becomes $95 an hour, instead of $80, who is to say he is being honest? Let's face it, we don't use plumbers every day, so how will we know if the new rate he is charging is fair or not, honest or dishonest?
To say I am confused and angry about Government's lack of clarity is a big understatement
On Businesses 'deluding themselves' on VAT black economy fears
Posted 8 October 2013, 6:47 a.m. Suggest removal
watcher says...
In a word - No.
Value Added Tax will be charged on all goods and services which are re-sold to the next person in the line. Ultimately, all goods and services provided by companies with turnover over $100,000 will charge VAT to us the public, the very end users.
If Kelly's import goods at 0% import duty, but then sells those goods to someone else (me and you), they will have to charge the VAT 15%. The terrible thing is, Kelly's can recoup the VAT they charge against any VAT they incur from other suppliers. We, on the other hand, cannot. So Joe Public can expect to pay 15% more for most things. Government hasn't even told us yet whether VAT will be charged on food, electric. cable, liquor, clothing etc etc. It will be a nightmare.
And the reason why I include the word "services" is that, for example, insurance companies, who are not giving you anything tangible, are going to charge VAT on property insurance.
So, expect people to cut down on a lot of things when the excrement really hits the rotating mechanised implement
On VAT: Most goods to see 'reduced border taxes'
Posted 7 October 2013, 3:04 p.m. Suggest removal
watcher says...
.....or a tape / video recorder ? Sounds like we are still in the 19th century, sadly
On ‘SICK OUT’ FORCES MONCUR CASE ADJOURNMENT
Posted 6 October 2013, 11:59 a.m. Suggest removal
watcher says...
So far, all I've read and heard on the subject of VAT is what concerned businesses have to say. Why is the Government not able or willing to issue definitive statements yet on what will, and will not, attract this pernicious stealth tax ? In my opinion, it is because they have no clue, and instead they are waiting until they estimate the wrath of the public. Not a satisfactory state of affairs at all.
On Private sector in Tax Coalition talks
Posted 29 September 2013, 6:03 a.m. Suggest removal
watcher says...
Surely it takes you longer to change your (obviously good) English way of spelling and writing into Bahamian "dialect" than it does to just type how you were taught to spell? I can never understand why my fellow commentators in the Tribune';s comment section insist on doing this.
On Embarrassment over lack of welcome for UNESCO group
Posted 3 July 2013, 1:09 a.m. Suggest removal