EDITOR, The Tribune.
DISASTER fund’s $60m levy: ‘You can’t afford to gamble’ ..... this refers to a proposal by a Canadian to create a sinking fund for any future catastrophic hurricane.
Sorry, Mr Don Maga, you clearly have not done too much research... today the stay-over visitor through the hospitality sector funds to the tune of $250.00 per person per visit to off set the large amounts of US taxes, Pre-clearance - Airport Taxes, PSC etc… there are Hotel Taxes to cover that.
So Mr Maga intends making The Bahamas uncompetitive - thanks, sir, but no thanks.
Principle is possibly correct, but where he wants to apply is totally wrong.
The legalised Numbers sector is clearing gross over $200m - the licencees are paying 13%, $22m 2% lower than the Law prior to legalising them so increase that tax to 16% plus and this is essential the player who wins over say $50.00 will also pay six-eight percent winners levy.
Are we maximising the potential revenue from casinos? We need advice and lets find out what similar destinations are charging ... stay competitive but max revenue. If a Bahamian wins in Florida he loses 30%!
January 12, 2018.