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Talks On Alternatives To Vat 'Constructive' Says Chamber

By AVA TURNQUEST

Tribune Staff Reporter

aturnquest@tribunemedia.net

TALKS with the government over alternative forms of taxation have been constructive, Bahamas Chamber of Commerce and Employers Confederation CEO Edison Sumner said yesterday.

Mr Sumner maintained that the business community was against the government’s proposed implementation of the Value Added Tax system.

The BCCEC’s Coalition for Responsible Taxation is expected to release recommendations made to the government on alternative forms of raising revenue this week.

“We can’t have VAT this stage, it’s not viable,” Mr Sumner said.

“Not in its current form. The coalition certainly has an issue with VAT, we analysed the implications on the business community and the economy.

Mr Sumner said: “We understand there is going to be legislation released to the public soon. We have been having discussions with the government relevant to extensive talks on the white paper, which is what we have been working on to date.”

Mr Sumner said methods include: controlling and reducing the cost of expenditure; improving revenue collection processes; and other forms of personal taxation.

The coalition has the support of around 20 major associations, according to Mr Sumner, who said its primary function was to engage the private sector on issues related to VAT implementation.

“We’ve had a meeting of all the major associations in the country,” Mr Sumner said, “we’ve been able to get pretty much all on board to date. There are a few others we’re still waiting to sign on to the coalition.

“The coalition’s other remit is to direct discussion with the government on VAT,” he added, “and analyse the implications of VAT to the public sector to make recommendations to the government.”

He added: “We’ve had very good meetings with the government, constructive dialogue. The government has been very open and receptive to the suggestions and the ideas of the coalition.”

Comments

ohdrap4 5 years, 6 months ago

Ah poor business owners. Reminds me when i was 8 years old, and my parents had limited funds for christmas presents. i remember them going on their annual mysterious trip-- which was to buy gifts and keep the youger children from discovering the truth about Santa.

We had already requested our expensive and trendy toys dujour. but they went ahead and bought some gifts with the funds they had available to them.

My mother then started a 'public education campaign" about how amzaing this and that toy would be (the ones she had already bought). leading up to Christmas those ended up being the toys we wanted.

PGC playing tricks on you all.

Even if you were able to come up with a plan, and copy and paste all manners of proposals from the internet, he will then say your proposal is no good. his hand alreadt on the trigger. don't be fooled.

One time i went to ask my boss for a raise. I wrote down some reasons why I should get it. When my first try failed, i took the proposal up the chain of command. Until one smart ass asked me to compile a LIST OF 10 INNOVATIONS to increase revenue( not to increase efficiencies or savings), and based on the list the raise would be granted. He knew no expansion was possible at the time; go make your list and be quiet for a couple of months. I did make a list, A LIST OF POTENTIAL EMPLOYERS, and send my resume out. Ileft the job.

you can't dance around these fellas, they are expert ballerinas.

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The_Oracle 5 years, 6 months ago

You are right to a degree on that, Our Elected Government is really only the middle man between us and the loan shark. The terms were good, all we had to do was present excuse after excuse as to why we hadn't done this or that, all the while borrowing more, tightening the noose around our countries neck. I'm waiting for a Rolle or other point person to just lose it in one of these "presentations" and blurt out the truth under pressure!

Our elected are marching to a distant drummer, their only concern with us is that we act as we always do, accept and acquiesce peacefully.

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