The Tribune

EDITOR, The Tribune.

Please allow the following recommendations to be published in your newspaper, concerning the government’s intention of introducing a Value Added Tax.

I am strongly against this type of tax, because it will be most detrimental to the grass roots population of The Bahamas!

I strongly suggest that government consider other measures to raise additional needed taxes, some suggestions as follows:

1. A Sales tax of 4 per cent.

2. A Payroll Tax of 3 per cent.

3. Inheritance Tax of 5 per cent.

4. Increase Gross Premium Income tax from insurance companies from 2 per cent to 3 per cent.

5. Bank license fees by 15 per cent increase. They are making millions of profit off the people of The Bahamas and exporting most of these profits out of the country.

6. Introduce a Casino Winning Tax of 5 per cent. This will be for all winnings paid out by casinos in The Bahamas. In addition the present casino tax that is paid to government be increased by 15 per cent. They have not had a change in their taxes for a number of years as far as I am aware.

7. Rebuild Hobby Horse Hall at a location on Gladstone Road (Crown property). It will create about 2,000 to 2,500 jobs, will be a huge tourist attraction and lastly, profits will go the Pubic Treasury. A management team could be appointed to run the affairs of the track, could possibly come under the Gaming Commission. The venture would derive millions into The Public Treasury.

8. Reduce budget for all government departments by 10 per cent over the next five years.

9. Cut all Senators and Members of the House of Assembly’s salaries by 15 per cent for the next five years.

10. Reduce the Civil Service payroll by 5 per cent over the next three years. (A savings of approximately $75 million).

11. Cut out the huge waste throughout the Civil Service (gas for vehicles, stationary, pilferage and overspending, etc.).

12. Reduce the rental of properties by various government agencies at exorbitant rental rates.

13. Rental income tax of 5 per cent on gross rental income on all rental buildings of six units or larger.

14. Take measures to collect the 500 million dollars owing in property taxes and the millions owed to The Bahamas Customs Department. 75 per cent of real property tax arrears are owed by persons and companies with properties valued in excess of $1,000,000.

I trust that these 14 points can be considered in order to save our country.

F. DENNY CURRY,

Nassau,

June 2, 2014.