VAT Misery

Posted on October 16, 2013 by weblogbahamas

VAT Misery

This entry was posted in Blogs by Rick Lowe, Current Affairs, Economy, International, Politics/Government, Society, Taxes, Weblogs. Bookmark the permalink.

11 Responses to VAT Misery

  1. Overtaxed's avatar Overtaxed says:
    October 16, 2013 at 8:57 am

    Perfect! Lets get some 20′ x 40′ signs made and place them throughout the entire Bahamas.

    Reply
  2. The Oracle's avatar The Oracle says:
    October 16, 2013 at 9:48 am

    And add “IMF” “OECD” “World Bank” “EU-EPA” “CARIB_CAN” “WTO” “UN” “COnsultants” to those shark fins!
    Plus both a PLP and an FNM representative “pushing” that poor Bahamian fellow into the shark infested water!
    Good one.

    Reply
  3. Tradewinds's avatar Tradewinds says:
    October 16, 2013 at 10:55 am

    Come on in Bahamas, the water is fine.. Don’t worry about the IMF loan sharks.. They are friendly sharks who have us in their best interests.. There is nothing to fear but fear of our self-ignorance and stupidity..

    Reply
  4. The Oracle's avatar The Oracle says:
    October 16, 2013 at 3:34 pm

    I agree Tradewinds,
    Our own collective ignorance is our undoing.
    Believing that our world/islands will never change,
    yet the change is right under our noses.
    Believing political promises,
    and believing the one devil is better than the other.
    A foolhardy position at best.
    Wealth preservation is going to get very very difficult.
    It is the money and wealth Government needs,
    After all,
    They promised it for everyone.

    Reply
  5. Barbados Citizen's avatar Barbados Citizen says:
    October 16, 2013 at 5:04 pm

    Only too true. The current government here in Barbados is driving this country into the ground. Even though the economic situation is showing signs of improvement in other places, it is getting worse here by the day. No money to pay workers, so no sugar cane being harvested; no sugar being refined and exported and the dominoes just keep falling. Employment rates down, so crime on the rise. Taxes are up (don’t even get me started on VAT). The government has no money to pay VAT refunds owed, so people are refusing to pay land tax because the government owes them more in VAT refunds than they owe government in land tax! Vicious cycle. Sigh…

    Reply
  6. Rick Lowe's avatar Rick Lowe says:
    October 16, 2013 at 6:08 pm

    This might be of interest?
    IMF Backing Punitive Taxation? http://www.nassauinstitute.org/articles/article1180.php

    Reply
  7. Tradewinds's avatar Tradewinds says:
    October 16, 2013 at 9:14 pm

    Thanks Barbados Citizen.. What you say about VAT also will happen here as spokespersons for the government has admitted too.. The government will be quick to take VAT payments due monthly from the merchants who must pay the tax, but since government is so broke it will not be able to pay back in cash what the government owes to the merchants.. Merchants instead will get a credit, in the form of a government IOU, to be used to offset future VAT due over a limited time frame determined by government..
    This has got to be a joke as a government IOU for money owed farmers for delivered produce or citizens owed money for property taken under eminent domain is seldom if ever paid.. A government IOU or credit is a farce, but then so is VAT which has been a failure and a force of economic destruction wherever governments are foolish enough to think VAT will solve their imprudent spending practices by raising hope for non-existing revenues..

    Reply
  8. Overtaxed's avatar Overtaxed says:
    October 17, 2013 at 4:26 am

    I’m with you on that all the way Oracle, they are both guilty of treason in my opinion.

    Reply
  9. Tradewinds's avatar Tradewinds says:
    October 17, 2013 at 5:38 am

    Please explain your use of the word “treason” within the context of the Bahamian Constitution.. Hip shooting is not enough to win this IMF imposed gun fight.. The VAT gang is taking careful aim at your pocketbook and they are winning by default.. Your initial comment Overtaxed was right on target.. We shall be looking for VAT signs to be posted everywhere.. Time to go for it!!

    Reply
  10. The Oracle's avatar The Oracle says:
    October 17, 2013 at 6:26 am

    Treason is an old fashioned word,
    but could well be applied to those who have instituted laws of other jurisdictions without writing said rules into our own legislation.
    Is our constitution not the Rule of Law in the Commonwealth of the Bahamas?
    Fisheries is an example, with commercial fishermen held to EU requirements for a number of years long before our own Laws relating to fisheries were amended to provide for some of these new stipulations/regulations.
    Unfortunately our Legal fraternity, who should be playing a role of watchdog in a general sense,
    has focused instead on personal aggrandizement and wealth acquisition and investor fleecing.
    Should we not have amended our laws to Comply with the Global Bureaucratic bullies first and foremost, if we intended to gamble our marbles playing with them?
    Cart before the horse as usual.
    Infinitely reactionary, not a forethought among them.

    Reply
  11. Tradewinds's avatar Tradewinds says:
    October 17, 2013 at 11:20 am

    Treason is best defined as a violation of allegiance owed by someone to his or hers own country or homeland.. It is in effect an act of giving aid and support to an enemy.. It also is an act of sedition where acts and statements are of such an intend as to incite rebellion against an established authority..
    A constitution is a codification of laws and governing principles of what a government may or may not do in its exercise of power.. Yes there are legal traditions.. However, they do not carry the force majeure of written law but still could sway a court’s position.. My point, of which I do not know the answer but will repeat again, what is the application of “treason” as it applies to the Bahamian constitution?? Treason like impeachment is rather difficult to prove, where sedition is another thing entirely.. When it is charged against an outspoken citizen, the citizen is often guilty unless he can prove his unquestionable innocence..

    Reply

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