Time to REMOVE the VAT

Submitted by Wayne Cadogan

Now that the dust has settled regarding the National Social Responsibility Levy (NSRL) I would like to add my two cents to the debate. All countries have always had to depend on taxes to run their country and clearly, the Value Added Tax (VAT) did not accomplish what it was intended to do. The main reason why it failed is because the government did not have total control and several businesses refused to pay the VAT after collecting it. If it was being efficiently collected, there would be no need to create the NSRL tax.

Now that a tax has been implemented which affects everybody and that businesses cannot get away with ‘murder’ as they were accustomed, they will continue to cry out because they all have to pay the NSRL up front now that the government has greater control over its collection.

My advice to the Minister of Finance and the government, now that you have a cash cow and sound method of everybody paying the NSRL tax, remove the 17.5 VAT tax completely and increase the NSRL tax to 15% and this would ease the burden on the taxpayers and the guaranteed tax collection from all, especially the businesses and more so those unscrupulous business owners.

While I am at it concerning taxes and that the country is faced with all sorts of people dumping their garbage all over the country, especially the gullies and other places. I would like to suggest to the government that they impose a 2% waste disposable levy on all large, small appliances and electronics.  This way the owner pays up front for the disposable when it is no longer functional and has to be disposed of.

I would hope that since the country is about to move into election mode that the current government does not wait until the last minute of the silly season to drop such a ploy on the people of Barbados such as dropping taxes to confuse the masses as they did the last election with the old woman and the bus advertisement.

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54 Comments on “Time to REMOVE the VAT”

  1. vincent haynesw October 6, 2017 at 7:40 PM #

    A retrograde step…..mismanagement is no reason to finish with VAT the most equitable system we have had……..if operated correctly all can be caught in the net…….NSRL will do lots of harm as it gave an opportunity to do massive increases that will never be reversed.

    Like

  2. Tron October 6, 2017 at 8:04 PM #

    Wrong assumption in the article. Barbados has no EARNING problem but a huge SPENDING problem. The civil service is the problem no. 1 in this country. Bloated with clueless souls who were not good enough for the private sector, corrupt to the core, liming around and always demanding a salary increase. The civil service damages this country more than slavery, hurricanes and any crime.

    As long as the taxpayer has to feed the many ministers, judges and bureaucrats, Barbados will be in plantation mode and NEVER become a developed country.

    Solution: Fire 10,000 appointed officers, give them 10,000 USD and send them with their families abroad with a never-comeback-airline.

    Liked by 1 person

  3. Bajan Free Party/CUP-PCP Violet Beckles Plantation Deeds from 1926-2017 land tax bills and no Deeds,BLPand DLP Massive land Fruad and PONZ October 6, 2017 at 8:10 PM #

    Old news , VAT is Fraud, to move people from land rent to land ownership, that was Owen and Mia land laundering scam, 20 years of VAT and the money gone under the BLP and now the DLP took their turn with the VAT,,, Alarm went off long ago,

    Like

  4. vincent haynesw October 6, 2017 at 8:26 PM #

    VAT was the brainchild of the Sandi govt with Thompson in charge of it.

    Like

  5. Tron October 6, 2017 at 8:32 PM #

    The VAT system is a condition for an IMF loan – which we will need very soon.

    Like

  6. Pachamama October 6, 2017 at 8:33 PM #

    Wayne Cadogan

    Have you no shame?

    Nobody in Barbados wants you and your ilk to be anywhere near governance, far less having anything to do with tax policy.

    You are to call an election and see.

    Not one blemming seat for your DLP…………………… LOL

    But then again, no betterment will come, still.

    Like

  7. Well Well & Consequences Observing Blogger. October 7, 2017 at 7:13 AM #

    There goes Fraudulent Fruendel with his usual deceit, but he can’t slither out of what he told the unions…he did it on tv….and Sinckler trying to retain that diplomatic passport at all cost, let the cat out of the bag to the public in a desperate bid to save his own skin, before talking to halfwit Fruendel, who was traveling in Canada…lol

    Pacha…have you ever seen such clowns…lol

    https://www.barbadostoday.bb/2017/10/06/pm-in-the-dark/

    “PM In the dark
    Stuart still without ‘all the data’ on NSRL

    Added by Emmanuel Joseph on October 6, 2017.
    Saved under Local News, Politics
    1
    Three days after his Minister of Finance Chris Sinckler revealed that the inflated National Social Responsibility Levy (NSRL) had raked in $50 million in its first quarter of operation, Prime Minister Freundel Stuart today suggested he was still in the dark on the levy’s performance.

    Despite Sinckler’s announcement in Parliament this week of the successes of the tax, Stuart this afternoon told Barbados TODAY on the fringes of the launch of the Personnel Administration Division’s correspondence management system at the Lloyd Erskine Sandiford Centre that he was still awaiting data on the NSRL’s output for the July to September period.

    He said once he had all of the information on the taxes collected he would address the issue.

    “The minister can say what he feels like saying, but I don’t have all of the data on the performance for the first quarter and when I get it I will speak on it,” the Prime Minister said.”

    Like

  8. Frustrated Businessman: Animal Farm sequel playing out in Bim. October 7, 2017 at 8:14 AM #

    This article is written by someone who does not understand how VAT works.

    To be clear, EVERYONE WHO IMPORTS ANYTHING PAYS VAT!!!!!

    The VAT-registered companies reclaim the VAT they pay at the port (by actual input or off-setting it against VAT they collect from customers on behalf of the gov’t) and then charge it to customers at point-of-sale.

    VAT is the only fair tax, it cannot be avoided.

    All other taxes should be scrapped, along with 75% of the BRA staff and bureaucratic complexity including Customs, and VAT increased to 25%

    The VAT registration threshold should be increased to BDS$1m in annual turnover.

    All purchases made in Grade 1 (based on countries of origin with which we trade) ForEx, by foreigners or locals, should be VAT-free at the point of sale. That means that any reported VAT-free sales would have to be accompanied with equivalent ForEx payments to the VAT office. That would boost tourism and ForEx reserves and remove the requirement for duty-free registered retailers. In effect, every VAT-registered business would be selling to foreigners tax-free.

    We cannot solve our problems with the same thinking (or thinkers) which created them.

    This is rather easy to understand by anyone who has ever run even the smallest business. ‘Carrying costs’ are the costs of inventory sitting in stock waiting to be sold. Taxes that are added at the point of entry increase carrying costs and reduce cash-on-hand to pay employees, advertise and generally develop economic activity.

    Valid VAT-registered businesses will always collect more VAT than they pay due to the added value in goods they sell. That means carrying costs would be lower if there were no import duties, business development would accelerate and there would be no net increase in prices to the consumer.

    Contrarily, NSRL, charged at ports of entry, was designed to slow economic activity to preserve dwindling ForEx. There was never any chance of our economy developing with the addition of NSRL.

    There will be no economic recovery under Fumble’s Fools.

    Like

  9. Andrew Simpson October 7, 2017 at 8:31 AM #

    An Environmental levy on packaging, appliances, automotive tyres and batteries, etc was proposed and instituted decades ago; 1 % ad valorem. It was then increased to 2 % before being rescinded years later. It never was allowed to benefit sustainable waste management as was designed.
    A Solid Waste (land) Tax was tried, to help pay for wastage but rightfully refused by citizens.
    We now have the National Social Responsibility Levy, recently increased from 2 to 10 %.
    A tipping fee is in effect and has achieved significant diversion but no savings to taxpayers.
    Despite widely accepted, economically viable solutions, still no mechanisms that encourage sustainable regeneration nor facilitate citizens to do the right thing. Shame really.
    A reduction in excess spending by GOB would allow VAT to revert while NSRL should go straight to National debt reduction.

    Like

  10. David October 7, 2017 at 8:47 AM #

    @Frustrated Businessman

    Let us agree that Wayne’s article is a layman’s view, the reality is still with us, VAT can only be efficient tax if those responsible for oversight (BRA) do the job!

    Like

  11. Tron October 7, 2017 at 9:17 AM #

    We need a purge in the civil service to reduce the numbers.

    Now they talk about a salary increase, using the Social Responsibility Plantation Tax. In other words, ZERO deficit reduction but more spending for the civil laggards despite low productivity and lack of any work ethic.

    Next downgrade is coming, devaluation is coming.

    Liked by 1 person

  12. David October 7, 2017 at 9:24 AM #

    Marla Duhkaran (Trinidadian lady on VOB could like our reference to Marla or lump it) clearly showed in her analysis that increase government spend/deficit in the last 6/7 years has not improved the Barbados economy. What it has done is to increase the monetary base and therefore exert enormous pressure on the foreign reserves.

    Like

  13. Tron October 7, 2017 at 9:24 AM #

    Frustrated,

    The Social Responsibility Plantation Tax is killing tourism and export! Barbadian products are too expensive. In other CARICOM countries, they started to sell EU milk for 2 BBD. Nobody will buy Pinehill for 6 BBD anymore.

    Like

  14. millertheanunnaki October 7, 2017 at 9:52 AM #

    @ Well Well & Consequences Observing Blogger. October 7, 2017 at 7:13 AM
    “The minister can say what he feels like saying, but I don’t have all of the data on the performance for the first quarter and when I get it I will speak on it,”

    What is this man saying here? Is that there is a serious lack of communication between himself and his ‘colleagues’ especially in a crucial ministry overseeing the deteriorating economic health of the country?

    In a digital age when cell phone messaging is the norm even among vagrants in Bridgetown?

    That his MoF is either a bullshitting incompetent or a bold-faced liar? Maybe both!
    Where did the minister get his data from to claim that $50 million extracted from an already over-taxed economy if it cannot be deemed ‘timely and reliable’?

    It is not a matter of the MoF saying “what he feels like saying” in Parliament but what his senior technocrats advised him.

    You are dealing with facts and figures that don’t lie or mislead Parliament (unless there are poor informed estimates); unlike manifesto promises or assurances about the timeframe for the Four Seasons restart or the BNTCL sale or the Hyatt erection.

    You are dealing with a man who in one breath claimed that he is apprised daily by his Guv of the CB on the state of the country’s foreign reserves but in another gasp of lying stupidity was unable to provide such ‘timely’ information (even an approximation) when put on the spot in a public forum.

    Not at all surprised at this guy who told naïve Bajans 2-3 years ago that as he ‘spoke’ in Parliament his people at the BRA were stuffing 24,000 envelopes with tax refund cheques and certificates.

    The country now has an endemic forex and pervasive fiscal problems not because of finding itself in the economic doldrums ‘fuelled’ by a blast of hot air generated by the ‘passed’ bogey international recession of a hurricane but, determinedly, of it being unfortunately saddled with an obese woefully incompetent jockey for a ‘lying’ administration.

    The truth will out very soon!

    As “Frustrated Businessman” is always admonishing us: “There will No economic recovery under Fumble and his fools”. (gang of lying incompetent corrupt goons).

    Like

  15. David October 7, 2017 at 9:56 AM #

    The statement as reported by Barbados Today (currently battling a lawsuit) is reminiscent of when prime minister Stuart revealed that when the late Thompson was PM he had visited that office on the rare one or two occasions.

    Like

  16. Frustrated Businessman: Animal Farm sequel playing out in Bim. October 7, 2017 at 10:44 AM #

    Tron October 7, 2017 at 9:24 AM #
    Frustrated,

    The Social Responsibility Plantation Tax is killing tourism and export! Barbadian products are too expensive. In other CARICOM countries, they started to sell EU milk for 2 BBD. Nobody will buy Pinehill for 6 BBD anymore.

    Of course it is, many of us said it would. The private sector layoffs haven’t started yet but they will by next month. Large item purchases have come to a complete halt; cars, appliances, furniture etc.

    Word in showrooms is ‘Mia will remove the tax so we can get by for three months with what we have.’.

    There was never any chance of economic recovery under Fumble’s Fools.

    Miller, for 8 years I’ve been typing that the PM has no communication with anyone in cabinet. Stinkliar has been running this country for 8 years.

    Every man for himself in this DLP gov’t.

    Like

  17. millertheanunnaki October 7, 2017 at 11:42 AM #

    @ Frustrated Businessman: Animal Farm sequel playing out in Bim. October 7, 2017 at 10:44 AM

    Barbados today is not only a good analogy to your Animal Farm sequel but also a perfect example of sending silly (wild) boys to do the jobs of men. That is why little boys are not enlisted or conscripted to fight wars.

    Barbados now seems cursed by the spectre of a ‘Reverse Midas Touch’.

    Everything the current administration has handled has turned into not even to a broken pyrex dish of fools-gold but into a menagerie of pure brass-bowlery of the BU Bush Tea brew.

    Even the electioneering conveniently-timed announcement of the long-promised Teachers Services Commission has already been assigned the fate of another ERT whose unsuccessful abortive attempt was saved only by the extremely long and intense birth pains.

    Like

  18. Prodigal Son October 7, 2017 at 12:28 PM #

    @millertheanunnaki October 7, 2017 at 9:52 AM #

    “In a digital age when cell phone messaging is the norm even among vagrants in Bridgetown?
    That his MoF is either a bullshitting incompetent or a bold-faced liar? Maybe both!
    Where did the minister get his data from to claim that $50 million extracted from an already over-taxed economy if it cannot be deemed ‘timely and reliable’?

    It is not a matter of the MoF saying “what he feels like saying” in Parliament but what his senior technocrats advised him”…………………………

    ………………………………………..

    miller,

    You want to bet that when the truth comes out, we are going to find out that the lying minister was actually lying (as if that would be a surprise) and that the tax only realised $5 million……
    we know he has problems with numbers.

    How on God’s green earth could a tax realise $50 million in three months when the Chamber came out in early September and said that their members were reporting that their revenues were down 10-15%?

    Even after the minister’s idle boast, the small business head said that their revenues were down 10-15%.

    What the lying minister has done is to box the PM into a black hole and we have to ask if it was deliberate or just the minister lying as always.

    The PM now has to answer to the unions….remember he lied and said that the unions agreed to wait until the end of September to see how the tax performed……… a tax that they have lied to us the taxpayers about its uses……..one minute it was to look after the deteriorating QEH and buy garbage trucks, in another breathe it was to help cut the deficit and in another to give public workers an increase.

    We shall see…….the unions now have them up the creek without a paddle……..the truth has to come out.

    Like

  19. Prodigal Son October 7, 2017 at 12:49 PM #

    @miller
    “You are dealing with a man who in one breath claimed that he is apprised daily by his Guv of the CB on the state of the country’s foreign reserves but in another gasp of lying stupidity was unable to provide such ‘timely’ information (even an approximation) when put on the spot in a public forum”.
    ………………………………………….

    I could not believe that a minister of the state could lie so brazenly right to taxpayers faces. I cringed…….the Stinkliar said this with the top brass of the Central Bank inches away from him.

    The Central Bank provides a daily briefing to this jackass as well as to its directors and to the PM as he is not the MOF.

    In the end the PM’s decision to broadcast that meeting of the social partnership was a good idea…….the people of Barbados got to see what an absolute jackass Freundel Stuart has put in charge of their finances!

    Toni Moore’s glare and response to the liar was priceless.

    Like

  20. enuff October 7, 2017 at 1:02 PM #

    Don’t be fooled by Chris’ pronouncements. Isn’t the expected 3-month NSRL haul further indication of a continued slowing down of the economy i.e. spending? Do the maths.

    Like

  21. Well Well @ Consequences Observing Blogger October 7, 2017 at 1:19 PM #

    lol…told yall Fruendel`s idea of broadcasting the cockup was the best thing that could have happened for the maority population and for the electorate to see whatrepulsive liars all ministers and politicians and their yardfowls really are…..no one can lie more.

    Like

  22. Bush Tea October 7, 2017 at 2:20 PM #

    @ Prodigal
    I could not believe that a minister of the state could lie so brazenly right to taxpayers faces. I cringed
    ++++++++++++++++++++
    Take it easy Prodigal … it may not have been a lie…

    Just because Stinkliar gets a daily briefing does not mean that he understands squat.

    Think on it…
    The Central Bank big shots provide these fancy briefings – with their lotta fancy jargon..
    Stinkliar don’t understand head nor tail what they are saying – so he sums up the lotta confusion to mean “raise taxes…..’.

    He CANNOT admit being to igrunt….. cause that would make Garsun school look bad.
    He cannot ask the Quisling …. cause he got burned when he did with CAHILL
    He cannot ask Froon – cause Froonie done ADMIT that he is clueless bout such concepts as money …. and besides things take months to reach his desk…

    The moral of this story is…
    Our ass is grass…..

    Like

  23. Prodigal Son October 7, 2017 at 4:26 PM #

    Bushie…………..you are hilarious! You have these idiots down pack…..only you have the wit to describe them and make us laugh. Well done.

    Like

  24. Prodigal Son October 7, 2017 at 5:13 PM #

    I just do not understand how one man could lie constantly and for no reason…….sometimes it is not even necessary………when the truth can suffice.

    Just like this……when the buffoon was Foreign minister, the Caribbean was signing on to a major treaty and all the heads of government were here for the signing. At one of the formal events, someone asked the minister…….well minister, do you have your speech all ready for tomorrow……..the man declared……no, no……I am going to go home, get some rest and get up sometime later and knock up something.

    The Permanent Secretary was standing in the same group and if you saw the stare he gave him as if he could not believe his ears. The PS seemed in shock that the man could lie so unnecessarily and in his presence.

    We all know that the man is not capable to read a foreign policy statement far less write on foreign policy. Anyone familiar with how government functions knows that Permanent Secretaries invaribly write ministers’ speeches. Why would the pompous idiot have to lie on a matter so simple in the presence of people who know how government works? Whom did he think he was impressing?

    You are right, Bushie……..our ass is grass!

    Like

  25. Vincent Haynes October 7, 2017 at 5:17 PM #

    Like

  26. Vincent Haynes October 7, 2017 at 5:22 PM #

    Finishing what we start | Barbados Today
    Finishing what we start
    There is a phenomenon in Barbados that never ceases to amaze me, so you may see me writing about it ad nauseam. It is our failure to complete and implement things. I call it an abortion syndrome where…
    barbadostoday.bb
    https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.barbadostoday.bb%2F2017%2F10%2F07%2Ffinishing-what-we-start%2F&h=ATOPwuWcm0YuMDe7oK4FOPa682YUEG2M1cnQDAuF6nxg8wlMx-5UtTgYNdwdxR1SqPk029xhewDtlGpCd8hYN_43r1_rZKkllXtQPQj1a0gTwwJWwY8TOuYC0sxZXs8LGhZ6Kfuh1D8z92OQtrGSC5UCIc8bbLPJUsOhDEDflJ_50Vn6oRhRnBA40Wsawx5WGCRMSEOOquSH7nqLUa519OdJwUoDPbPhI8l3rWvJQrpU4URmF-UcmF5h1KaWYAi4C-WdVcdXrHzdMj_HpfQERPQwOzzr1jX_

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  27. Well Well & Consequences Observing Blogger. October 7, 2017 at 5:31 PM #

    Miller…does that have anything to do with Fruendel’s riddle a couple years ago about ……a blind man in a dark room with a black cat…lol.

    We were making jokes about that one for months after, now here he is again….in the dark….hahaha

    Like

  28. millertheanunnaki October 7, 2017 at 6:41 PM #

    @ vincent haynesw October 6, 2017 at 8:26 PM
    “VAT was the brainchild of the Sandi govt with Thompson in charge of it.”

    Are you sure it was the “brainchild” of the schoolteacher and not an IMF instruction with the wet-behind-the-ears whippersnapper finance and economics idiot Thompson the errand boy?

    The Sandiford administration was caught between a forex parched rock and a fiscally hard place in order to avoid devaluation of the Bajan sacred cow of a currency.

    The proposal of a VAT regime had been recommended in an earlier study (could have been during the Tom Adams’s administration) by an IMF-sponsored consultant named Ann Friedlaender, an MIT professor in economics and an ‘expert’ in the area of Public Finance.

    Those ‘politician’ guys’ hands were so full of the confusion from the problems of the times and the internal fighting caused by a ‘lump-it-or leave it’ style of leadership (similar to what prevails today) that they were probably rather reluctant to implement such a far-reaching game-changing tax regime after the rebellious response to the 8% cut.

    The subsequent turn of political events which forced the then PM to pull up sticks and the electorate to shout ‘game over’ forced the passing of the baton of implementation to the Arthur administration.
    The rest is history.

    Bajans are paying dearly with their financial blood, sweat and tears for that deliberately wicked act of the vindictive DT by appointing, on his deathbed, the sinliar Stinkler as the MoF (minister of failures) to continue the financial rape and violation of Bim.

    Don’t be surprised if Stinkliar goes stark raving mad in the coming weeks because of his pathological ‘desire’ to lie through his teeth to cover up his trail of incompetence. He has fired another salvo of lies with his $50 million collection unknown to his boss.

    “Those whom the gods wish to destroy they first make mad”.

    But for the monotheistic Dr. GP, my friend in arms against liars:
    “Quos Deus vult perdere, prius dementat”.

    Like

  29. vincent haynesw October 7, 2017 at 6:49 PM #

    Miller

    No disagreement on the above.

    Chuckle…..now you have embraced GP….does that mean Zoe as well……lololol

    Like

  30. Well Well & Consequences Observing Blogger. October 8, 2017 at 4:53 AM #

    Everytime the government(s) lie to the majority population, because the ministers believe the people are too stupid to understand they are always being lied to, they victimize them even more.

    http://www.nationnews.com/nationnews/news/101154/debt-choking-growth-chances

    “Barbados should kiss its hopes of major economic growth goodbye for now.
    Related articles

    The Inter-American Development Bank (IDB) warned that Government’s “troublesome” fiscal problems and “high levels” of public debt had the economy constrained.

    In a new “special report” examining the Caribbean’s fiscal challenges, economists in the IDB’s Caribbean Department said in Barbados “the build-up of debt, and the increasing costs of servicing it, are crowding out fiscal space and have had adverse implications for private investment and consumption decisions because of the high country risk”.

    At the same time, the bank asserted that part of the challenge was that when budgeted and actual figures were compared, it showed Government was overestimating its revenue and underestimated its spending. (SC)”

    Like

  31. Vincent Haynes October 8, 2017 at 8:03 AM #

    10 hrs ·

    Economist Julie Nelson: “So why do the economic ideologies have so much power? One explanation is that since such teachings serve the short-term interest of various wealthy and powerful parties, they can receive well-funded dissemination via education and the media. Yet there is another important reason: The effective disguising of economic doctrines as “scientific.”
    Economist Julie Nelson Says Much of Economics is a Sham Science – Evonomics
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    Like

  32. David October 8, 2017 at 12:26 PM #

    Eddie Abed is on the talk show sharing ‘nuff’ lashes.

    Like

  33. Hal Austin October 8, 2017 at 12:39 PM #

    Vincent,
    Since the 1980s there has been an intense debate within dominant economics between the monetarists and the neo-classics and, indeed, the New Keynesians. Between 1985 and 2007 there was a kind off truce, between what Paul Krugman, the Nobel Laureate, called the freshwater economists and the saltwater economists.
    Before that we had the dominance of the so-called Chicago School and their bogus efficient market hypothesis, that markets and investors are rational participants, and the rise of mathematical models as an alternative to the application of sensible economic policy.
    Since 2008 this argument has again with even students – at Manchester University and as far away as Argentina – demanding that universities’ curricula must change to engage with the new economic developments.
    @Vincent, somehow this global debate is passing Barbados by; we celebrate people preaching from their post-war Bretton Woods university notes.
    We need a wide and robust debate, one where ideas and not vile, obscene abuse, come to the fore. At least this much we owe our fellow citizens.

    Like

  34. David October 8, 2017 at 1:59 PM #

    General Elections some come!

    No automatic alt text available.

    Like

  35. Frustrated Businessman: Animal Farm sequel playing out in Bim. October 9, 2017 at 6:47 AM #

    Vincent, you are not correct.

    I have always typed that our civil service does not need to be shrunken; what we need is the service we pay for.

    That is because their salaries and wages are spent, not horded. In that regard you are right: they have to spend nearly 100% of salaries and wages to survive and therefore keep the economy afloat by their spending; this is obviously counter-acted by them not doing their jobs and holding us all back.

    However, cash not spent is either invested in gov’t bonds to keep the gov’t afloat, mutual funds which grow businesses or it is kept in the bank where there is access by business people in a banking environment which is not risk-averse.

    Obviously our current financial environment is extremely risk-averse.

    Never has there been this much cash in the BDS economy, some estimates say it has doubled in the last 10 years.

    But where is it?

    Are people eating it?

    Of course not, it is sitting, waiting for Fumble’s Fools to F-off back to the gutters they came from.

    Even if Ninjaman wins the next election, our economic recovery would be hard to stop. The biggest problems will be civil-service facilitation, ForEx shortages (which drive our import-based economy) and inflation.

    Most people really don’t understand the level of negative-talent that it has taken to keep our economy in a downward spiral for 9 years. The last time I am aware of was the Great Depression of 1928 – 1939.

    Like

  36. Alvin Cummins October 9, 2017 at 12:03 PM #

    Tron, Prodigal, Miller, and Frustrated;
    Money sitting (wherever) is money wasted, because it is not serving any useful purpose. Consequentially, your loyalty to yourself, and others who are loyal, who are :”waiting for Fumble’s Fools to F-off back to the gutters they came from.”must come under serious scrutiny. It just shows how you people have sabotaged your own country for your narrow political interests. It will be really interesting to see the outcome of the coming election and your reaction at your disappointments. As “Most people really don’t understand the level of negative-talent that it has taken to keep our economy in a downward spiral for 9 years.”
    How much further we could have been taken, had you applied that negative talent positively, for the good of the country.

    Like

  37. Prodigal Son October 9, 2017 at 12:17 PM #

    Alvin

    Please just crawl back under the rock you just come from………..

    You do not live here to endure to hardships people are going through. Just shut to hell up. Neither Fractured, Tron or I want to hear your bullshit, your party is the worst government we have ever had…..

    Once your stupid party is kicked out…..confidence will return to Barbados and investors will come…………buzz off.

    Like

  38. John October 9, 2017 at 12:23 PM #

    The writer is on point. Govt should increase the NSRL to and done away with the VAT. This will ensure that govt collects it revenue upfront at the port and wouldn’t have to rely on the private sector to pay in the VAT when and if they feel like. It eliminates the cartel mentality, exercise by the private sector to starve govt of revenue when they deem it necessary to do so. And it also eliminates the need for VAT refunds. Therefore govt would be in a better position to adequately plan its social and other programs. Also conduct frequent audits at the port to ensure that everyone are subjected to the tax. No exemptions.

    Like

  39. Frustrated Businessman: Animal Farm sequel playing out in Bim. October 9, 2017 at 12:54 PM #

    Alvin, you and the idiots you serve really have no clue how poorly you and the rest of Fumble’s Fools are considered.

    When everyone who speaks about business and economic matters says that they have no confidence in your flock of jackasses, what do you think they mean?

    Like

  40. Frustrated Businessman: Animal Farm sequel playing out in Bim. October 9, 2017 at 2:08 PM #

    Very enlightened comments John, straight to the front of Fumble’s Foolish class for you!

    When will you idiots understand that the only means gov’t has of earning income, like before you socialists can teef it or piss it away, is through the successful endeavours of the business community.

    Like

  41. David October 9, 2017 at 2:44 PM #

    @Wayne

    Dr.clyde Mascoll destroyed your argument today on the afternoon show.

    Like

  42. Hants October 10, 2017 at 1:41 AM #

    Like

  43. Hants October 10, 2017 at 1:43 AM #

    Barbados getting licks.

    Like

  44. millertheanunnaki October 10, 2017 at 8:32 AM #

    @ John October 9, 2017 at 12:23 PM
    “The writer is on point. Govt should increase the NSRL to and done away with the VAT. This will ensure that govt collects it revenue upfront at the port and wouldn’t have to rely on the private sector to pay in the VAT when and if they feel like.”

    We will believe that when the same government is able to recover those amounts of duties evaded on the importation of those ‘knocked-off and-down’ motor vehicles and the tons of goods imported but miraculously fail to attract duties and taxes because of corrupt relationships between politically-connected importers and easily bribed customs officials.

    VAT is by far the most effective tax regime on a wide range of consumption of goods and services offering the opportunity to collect taxes on the ‘added value’ at almost every tax point of the entire supply chain thereby widening the tax base.

    John, the problem is not with the VAT but with the high level of political interference in its administration and enforcement and the corrupting influence of bureaucratic officials along with the systemic-related overly long list of zero-rated and exempt supplies which give rise to a raft of administratively onerous and fiscally challenging refunds.

    As its stands the NSRL distorts the ‘true costs’ of the goods ‘manufactured’ locally while imposing an additional layer of administrative burden. This additional unnecessary administrative burden and cash-flow financing requirement on locally-produced goods to comply with the fair competition rules of the WTO (imported finished goods vs. locally produced) can result in making the locally-produced goods more expensive and competitively disadvantageous.

    NSRL is levied on the cost of production or landed cost as in the case of imported finished goods; not on the NET prices (price before VAT including all ‘added value’ at each point of the supply chain) paid by consumers.

    If we were accept your proposal of replacing VAT with NSRL across the board, you will have to tackle the immediate effects such a change would have by shrinking the tax base thereby reducing the overall amount of tax collectible.

    As a total replacement for VAT would the NSRL be levied on the ‘delivery’ costs of the same range of services like utilities (excluding water for the time being)?

    Why reinvent the wheel? Why not improve the current VAT regime in its operation (enforcement and collection) instead of looking at a short-term fiscal measure whose costs of application far exceed any perceived additional benefits from a fiscal band-aid.

    Like

  45. David October 10, 2017 at 9:21 AM #

    @Miller

    The key point to be made about the VAT is that the there is the functionality to exempt goods and or increase rates to manage the impact on domestic spend vs foreign. Important given the structure of the local economy.

    Like

  46. John October 10, 2017 at 9:50 AM #

    De cartel(aka the private sector or glorified shop keepers) often refused to pay in the VAT. They hold it as if it’s theirs. And use it to cover their operational expense. A govt cant meet it commitments when unscrupulous business ppl the cartel withholding money that ain’t theirs from the ppl of Bdos. Bi-monthly when VAT is due, the cartel call around and inform the members of their cartel that they will not be paying VAT. They does file. Filing is not equivalent to paying the amount at the point of filing as they are required to do. Penalties and interest are added to their accounts. Just like in the case of nis and Paye. The cartel need that power taken from them it’s hurting the country. Collect all the tax at the port, call it whatever tax you like NSRL I don’t care. But a country should never be held to ransom by a few who has the power to pay VAT when and if they feel like.

    Like

  47. David October 10, 2017 at 10:09 AM #

    @John

    Yours is a nonsense argument because it is up to government to enforce and collect, failing, enforce the penalties.

    Like

  48. millertheanunnaki October 10, 2017 at 10:12 AM #

    @ John October 10, 2017 at 9:50 AM
    “De cartel(aka the private sector or glorified shop keepers) often refused to pay in the VAT. They hold it as if it’s theirs. And use it to cover their operational expense. A govt cant meet it commitments when unscrupulous business ppl the cartel withholding money that ain’t theirs from the ppl of Bdos. Bi-monthly when VAT is due, the cartel call around and inform the members of their cartel that they will not be paying VAT. They does file. Filing is not equivalent to paying the amount at the point of filing as they are required to do.”

    And what do the laws of the Land have to say about the actions of “De cartel (aka the private sector or glorified shop keepers”?

    And who are responsible for enforcing these laws passed in a Parliament of black politicians elected to represent the interests of the people and not a select group of “glorified shopkeepers”.

    “De cartel” cannot these fraudulent and criminal acts unless they enjoy the active participation with both corrupt politicians and bureaucratic officials on the take. Is Maloney (cement shopkeeper) and Cost-U-Less members of “De cartel”?

    The imitator Quack John, it is not the VAT (which is also levied on imports and collected at point of importation) or even the NSRL but the bribery and corruption.

    Why not ask the “frustrated Businessman” for confirmation!

    Like

  49. John October 10, 2017 at 10:19 AM #

    @ David

    Let’s analyze the nonsense, if you(the cartel) are no longer required to collect the VAT. Would there be a need for enforcement duhhhh. It is ok to shout from mountain tops but bi-monthly the cartel disseminate via the various boardrooms that we are not paying Vat and that’s ok. And the cartel don’t pay the penalties or interest either. Collect at source the port. There will be no administrative cost to businesses either.

    Like

  50. David October 10, 2017 at 11:31 AM #

    @John

    Nonsense!

    Like

  51. Angela October 10, 2017 at 1:16 PM #

    @ John. Let’s assume that marijuana was legalized. Would law enforcement still be enforcing its ban. Commonsense tells me no. So no Vat no enforcement. Ain’t seem like nonsense to me.

    Like

  52. millertheanunnaki October 10, 2017 at 3:32 PM #

    @ John October 10, 2017 at 10:19 AM
    “@ David
    Let’s analyze the nonsense, if you(the cartel) are no longer required to collect the VAT. Would there be a need for enforcement duhhhh. It is ok to shout from mountain tops but bi-monthly the cartel disseminate via the various boardrooms that we are not paying Vat and that’s ok. And the cartel don’t pay the penalties or interest either. Collect at source the port. There will be no administrative cost to businesses either.”

    Never mind the port, what about enforcing the NSRL on locally produced goods since you seem to want to exclude services from the NSRL net?

    Wouldn’t a similar reporting, enforcement and collection regime similar to VAT be required to ‘police’ the same NSRL on local production and output if you wish to be in compliance with WTO rules?

    Stop with the nonsense. Tax enforcement efforts and collection efforts are never simplistic as you are trying to make out.

    Next minute you will be making a case for the abolition of land taxes and the NSRL as its suitable replacement.

    What about abolishing income taxes and even corporation taxes because there will be no administrative cost to either individuals, businesses or even the BRA.

    Like

  53. David October 11, 2017 at 8:22 AM #

    @Angela and John

    Make up your mind!

    Like

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