chairarranger 9 years, 10 months ago on VAT exclusive pricing 'definitely way to go'
VAT exclusive pricing 'definitely way to go'
The government is legitimately elected. The VAT is here. This is not a fresh debate about the merits of the VAT, its about the mechanics of implementation. Bahamian shoppers (and tourists) don't need tricky schemes by retailers to ticket-price goods with a number that is less than what they will be asked for from their wallets at the checkout. The "hot air ignorance" is in fact your rant against the VAT and that debate has been lost, and if you want a fresh debate then take it elsewhere, (like to an Election). In the meantime price your goods with the price you will charge me when I go to pay for it. Bahamians don't want to carry around calculators in their pockets everytime they go shopping in your store.
chairarranger 9 years, 10 months ago on VAT exclusive pricing 'definitely way to go'
VAT exclusive pricing 'definitely way to go'
I didn't vote for this government, nor have I ever worked for them or for any agency associated with them. Instead of misdirected name-calling go find yourself an intelligent argument instead. One that relates to the facts of the current situation. It is misdirected ranting, name-calling, a lack of efficient, consistent and transparent policy implementation, and a failure to stick to the facts that sees us now with a $6 billion national deficit that has to be funded somehow. If tricky and deceptive retail pricetags is your answer to fixing the economy then I am very grateful that you and Mr Watson are not running things.
chairarranger 9 years, 10 months ago on Cinema tickets up by more than rate of VAT
Cinema tickets up by more than rate of VAT
Sensible, rational comments here. Even the VAT expert consultants made it absolutely clear that freedom of information and fiscal responsibility acts were essential components of a VAT implementation. They advised on enacting both first, before rolling out the tax. This is where public pressure must now be intensely applied.
empathy 9 years, 10 months ago on FNM planning to repeal parts of tax
FNM planning to repeal parts of tax
Mr. Minnis you and your advisors need to read up on VAT and meet with the government's New Zealand Consultants before proclaiming your plan to repeal certain aspects of it make sense. In fact they have answers and suggestions that address your very proposals. Including addressing Social Services to offset the struggles the poor will face upon VAT implementation. Following their advice and the NZ GST as close as possible may indeed be your best suggestion.
That said, the previous commenter brings up an excellent point regarding government's spending. We Bahamians have no "choice" when it comes fiscal responsibility amongst our political parties. All seem to be in the "promising business". Unfortunately none hail limiting government spending, promotion of private business expansion and elimination of monopolies as a priority.
Mr. Minnis, you are the Leader of the FNM, act like it!
empathy 9 years, 10 months ago on Super Value owner: I have nothing to hide over prices
Super Value owner: I have nothing to hide over prices
I've read the New Zealand Consultant's report on VAT. They suggested reducing the Customs Duty to a small amount on virtually everything (Customs Duties in NZ have largely been eliminated as well as all of their other taxes being substantially reduced). When you have only some exemptions on particular items people have to wonder "in whose favor are these exemptions meant"?! The NZ Consultants also recommended reducing the VAT exemptions to only "financial services, certain insurances (like annuities which have a finance component) and residential rent". The initial increase in inflation faced by the poor/ working class should be accompanied by increased social services assistance. Once the Customs Duties are reduced across the board then the overall cost of living in the Bahamas should come down since these Custom's Duties (taxes) are likely the greatest component to the high cost of living here: Bahamians we are some of the most heavily taxed citizens in the world, lack of income tax not withstanding! Now the consumer protection agencies will need to police our businesses to ensure that those cost savings are passed on to the consumers. However simple business competition should encourage folks to "drop their prices", but keeping an eye out for "hogs" is a good idea. Why is it that our government thinks it can do a better job implementing VAT than the New Zealanders, whose Goods & Services Tax (GST) is acknowledged as being the best on earth?! Hopefully government will get their policies in gear and adopt the good advice that they have been offered, as well as tightening their own belts on the spending side!
lkalikl 9 years, 9 months ago on Forbes aims to 'make a difference' in Minister of State of post
Forbes aims to 'make a difference' in Minister of State of post
Government needs to shrink the number of Cabinet positions. Total waste of tax payer money.
mangogirl01 9 years, 9 months ago on Super Value lacks documents to help price control
Super Value lacks documents to help price control
Why the name calling? Mr. Bowe is/was a hard working government employee and I understand that he came out of retirement to do this. Yes, the job could and should have been given to someone else but he may be training that person(s) to do just that. Keep up the good work Mr. Bowe.
B_I_D___ 9 years, 9 months ago on Mario's not yet charging VAT - and says 10 per cent tax on receipts is actually gratuity
Mario's not yet charging VAT - and says 10 per cent tax on receipts is actually gratuity
My question regarding their receipts then would be...were they charging that 10% gratuity before January 1st? Must be SO nice to have political connections and not have to pay your BEC bills and can totally disrespect the new VAT implementation.
hj 9 years, 9 months ago on Mario's not yet charging VAT - and says 10 per cent tax on receipts is actually gratuity
Mario's not yet charging VAT - and says 10 per cent tax on receipts is actually gratuity
Exactly, if I am paying either for gratuity or tax I should know what am I paying for. And what happens if someone else decides tomorrow that he is not ready for VAT?
The_Oracle 9 years, 9 months ago on Mario's not yet charging VAT - and says 10 per cent tax on receipts is actually gratuity
Mario's not yet charging VAT - and says 10 per cent tax on receipts is actually gratuity
Gratuities on a receipt should be call gratuities, not inserted in a tax line. Was this being done on receipts prior to Jan 1st? surely someone has a receipt from prior to Jan 1st? Simple enough to investigate, once they're finished with Super Value......
Greentea 9 years, 10 months ago on Cinema tickets up by more than rate of VAT
Cinema tickets up by more than rate of VAT
Stop the foolish talk. We cannot expect the government to pay for this and pay for that but not want to pay our share of the burden- people=government. If the PLP didn't implement VAT the FNMs would have had to. Elected officials shouldn't be a allowed to borrow another cent, businesses should not price gouge the consumer and the consumers should be more concerned about insisting on government accountability and transparency in budget concerns and expenditures in the face of VAT. We cannot continue as we have been, wanting goods and services and expecting the government to do magic tricks to find the money to prop up the economy. they don't know any tricks. the only thing they know is to borrow- and borrowing adds to debt burden and excessive depth burden will devalue our dollar. That is bad enough but we cannot allow the government to fritter away the public purse and cloak corruption.
The_Oracle 9 years, 9 months ago on Top official challenges Galleria’s ‘distortion’
Top official challenges Galleria’s ‘distortion’
I would have to agree with Mr.Rolle ( but not Mr. E.J Bowe or his methods) it would appear that Mr. Mortimer or other Ownership/Management at Galleria either does not understand VAT, or are being disingenuous. Statements have been made that cannot go unchallenged. If costs have increased so be it, but it is incredibly foolhardy to choose the same date of VAT implementation to hike prices! When digging a hole for oneself, it is best to stop digging! Having said that, I'm sure there are many small businesses and maybe some not so small businesses that do not understand VAT. The Ministry of Finance aught to be out there helping, and being genuine in taking the time to educate those who do not understand VAT. I realize this is not the typical Government approach but it is essential given the state of business competency that is prevalent.
GrassRoot 9 years, 9 months ago on PM plans to ask China for funds
PM plans to ask China for funds
makes me sad to see that the PM does not know that The Bahamas is not part of Central and Eastern Europe.
The_Oracle 9 years, 9 months ago on Gov’t agencies at odds on VAT
Gov’t agencies at odds on VAT
The ultimate tax any consumer will (should) pay is 7.5% on retail. (or wholesale) the Government collects it in portions of that along the way from each entity in the supply chain, as each entity "adds value". (markup) A simple 7.5% sales tax would collect it only at the end retail sale. VAT represents a first world tax system with first world accountability at each stage, and is self enforcing. The exception to this is the cash economy, which will grow as it has in other jurisdictions.
B_I_D___ 9 years, 9 months ago on YOUNG MAN'S VIEW: Time to stop automatic gratuities
YOUNG MAN'S VIEW: Time to stop automatic gratuities
Agreed 100%...the ONLY reason...and I stress this as the ONLY reason I would want some sort of tip system in place would be to guarantee some sort of dispersal to the kitchen staff and cooks and such. Yes your waiter is one of your primary 'faces' to the service in a restaurant, but it also comes down to how well the meal is cooked and presented on the plate with garnishes and sides...they do deserve a bit of the tip take. Not saying it has to be automatic, but a system within the restaurant P.O.S. system has to deal with a tip split towards the line cooks.
digimagination 9 years, 9 months ago on YOUNG MAN'S VIEW: Time to stop automatic gratuities
YOUNG MAN'S VIEW: Time to stop automatic gratuities
Gratuities should be left entirely at the discretion of the guest and be based purely on service received. Automatically adding 15% 'for your convenience' to a bill is complete and utter nonsense.
TheMadHatter 9 years, 9 months ago on BAMSI blaze was arson
BAMSI blaze was arson
While all of that is true, it does not justify someone burning it down. We cannot attack our own selves - or else we will lost this country to outsiders.
TheMadHatter
chairarranger 9 years, 10 months ago on VAT exclusive pricing 'definitely way to go'
VAT exclusive pricing 'definitely way to go'
Don Brash was a world-leading central bank governor for fourteen years. I just read about him in the New York Times: http://mobile.nytimes.com/2014/12/21/up…
It is inconceivable that in targeting inflation, setting interest rates and managing a nation's money supply, that he would not have an "appreciation for our retail environment" and an acute understanding of how best to implement a tax system that he was at the forefront of implementing in his own country.
Brash would know a lot more than Jason Watson about tax, pricing transparency and consumer protection. Rather than whinge in his own self interest to save the cost of a hundred thousand pricing stickers, Mr Watson should show support for transparency in pricing and ensure local consumers are not confused or misled about the final cost of his products.