The Tribune

EDITOR, The Tribune.

VAT - will my boss be affected and will he have to make some of his loyal employees redundant is on the lips of many as we seemingly head into the unknown and those who are leading are uninformed and ill-informed.

As I see VAT, it will not affect the bread basket items already price controlled items, except if the business has additional expenses to set the monitoring for his VAT liability on the other items he sells that will be passed on so government and it’s messengers can’t truthfully say VAT will not increase prices... It will.

Now with less cash in the market available for purchasing what if people slow down buying items which are dutiable and when sold the business makes their profits to keep their stores and us employed? Government is not going to reduce their prices – the businessman, unlike the rest of CARICOM countries, cannot write off business costs as we pay on gross sales period (it so annoys me when government messengers and so-called foreign consultants simply lie to us saying there is no difference – do your homework before you speak garbage). Unlike CARlCOM we don’t have Income Tax.

Business Licence is paid on gross sales, no deductions.
This is what frightens me and should every other employee. If my boss’s business loses business and makes less what do you think he will do?

Have the wizards at finance consider when you reduce sales there is less money able to be donated to charities and good causes? Business totally supports charities and not-for-profit groups.

I found it incredible that Mr Christie standing on his feet in the House could simply reduce the potential VAT rate of 15 per cent to 7 per cent as quickly as Brer Rabbit came out of his hole, but leaving Mr Rolle of Finance scrambling – 50 per cent just to get his colleagues to kill the termites in the benches of the House (banging)!

Why the threats from Mr Rolle on devaluation? Not necessary, sir, not necessary that’s a totally different issue. The Bahamian dollar isn’t truly valued equal to the US$ - that has always been make-believe only politician believe that… how about 65 cents?

MARCIA BURROWS

Nassau,

March 22, 2014.