EDITOR, The Tribune.
So, Government wants to encourage Private Yacht registration to the Bahamas flag. Zeroing duty and VAT has zero connection to enticing a yacht owner to register their yacht under the Bahamas Registry. The lowering of duty to 10% is purely and solely being designed to suit a constituency that Government wishes to assist – yacht owners are not the norm they have wealth, have money - yachts are their toys, sorry guys unnecessary luxuries which under all normal conditions you will pay for – zero support to lowering duty.
Same goes for EV vehicles - electric vehicles a luxury - unnecessary, a toy of those who are wealthy you got to contribute.
It’s totally scary that no politician past or present understands the critical issues facing our finances. Successive governments have racked up debt on debt 2022 we have to find $518 million … 2023 we have to find $251 million … 20024 we have to find $509 million … 2025 (next election) we have to find $184 million for the coming seven years after every year minimum of $440 million a year without deficit.
STEPHEN MOSS
Nassau,
June 28, 2022.
Comments
Bobsyeruncle 1 year, 10 months ago
Same goes for EV vehicles - electric vehicles a luxury - unnecessary, a toy of those who are wealthy you got to contribute.
Yachts yes, but when have EV's been considered a luxury? They may currently be slightly more expensive than a similar sized gas/petrol powered car, but given the price of gas, it wouldn't take that long to recoup the difference.
LastManStanding 1 year, 10 months ago
To be honest, I would never buy an electric vehicle for use in the Bahamas solely due to BPL. The price of gas is rarely ever high enough to say that paying BPL would be cheaper, not to mention that you probably won't be able to charge the batteries a good portion of the time.
Better compromise might be hybrid, but good luck finding a mechanic qualified to work on them.
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