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Mini Budget Day in Barbados

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To the observer of the Barbados space post 2018 General Election, there has been non stop activity generated by the newly installed government of Barbados since taking the reins. There is an air of expectancy about what the Prime Minister will convey to citizens.

The unprecedented decision by the government to trigger a selective default has committed Barbadians to travel an uncharted path.

Many Barbadians although discomfited by the state of affairs that will for a long time prevent any reference to Barbados being a model country for others to emulate, appreciate that affirmative action must be taken.

The Barbados brand has received a huge dent!

 

 

 

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298 responses to “Mini Budget Day in Barbados”

  1. Hants Avatar
    Hants

    Amazon.ca

    “The amount of tax calculated depends on many factors, including the destination of the shipment and the type of item purchased. All items shipped to destinations in Canada are subject to Canadian Goods and Services Tax (“GST”) at 5%. In addition, the following Provincial Sales Tax (“PST”) or Harmonized Sales Tax (“HST”) might apply, depending on the item and the destination of the shipment:

    New Brunswick, Newfoundland, Nova Scotia and Prince Edward Island: HST at 15% (including GST portion)
    Ontario: HST at 13% (including GST portion)
    British Columbia: Provincial Sales Tax (“PST”) at 7%
    Saskatchewan: Provincial Sales Tax (“PST”) at 6%
    Quebec: Quebec Sales Tax (“QST”) at 9.975%
    Manitoba: Retail Sales Tax (“RTS”) at 8%

  2. Bernard Codrington Avatar
    Bernard Codrington

    @ David BU at 2:38 PM

    You and I know that the bracket you mentioned are the high income earners in salaried positions. John will tell you that income is not wealth.

  3. Hants Avatar
    Hants

    Feds considered how to collect taxes from Netflix, Amazon

    https://globalnews.ca/news/4112191/canadian-taxes-netflix-amazon/

  4. Mariposa Avatar
    Mariposa

    Just like whistling in the dark

  5. David Avatar
    David

    Stand corrected Bernard.

  6. de hood Avatar
    de hood

    @ David,
    @Hoodie
    The blogmaster derives a sadistic pleasure in flushing the comments 🙂.

    He was always a poor excuse for a human being anyway!! Lolll. .Deserves being flushed down the South Coast!

  7. Enuff Avatar
    Enuff

    @David

    It is a global trend. I know of what I speak.

  8. Mariposa Avatar
    Mariposa

    Oh my bad.just like whistling past the grave yard

  9. Hal Austin Avatar
    Hal Austin

    Enuff,

    Television was meant to be the death of the cinema; VHS was meant to be the death of television; the internet was meant to be the death of books. Shopping malls were meant to be the death of the high street.
    I can go on, but you got my drift.

  10. Bernard Codrington Avatar
    Bernard Codrington

    @ Hants at 2:52 PM

    I believe that for Barbados a similar variation is in place for airline tickets and clothing etc. for popular overseas suppliers.

  11. Enuff Avatar
    Enuff

    Hal

    The High Streets are dying, as a result of the same online shopping phenom.

    https://www.independent.co.uk/news/business/analysis-and-features/uk-high-street-store-closures-retail-job-losses-2018-next-toys-r-us-new-look-maplin-a8270506.html

  12. de hood Avatar
    de hood

    David,

    What about paying for airfare online and hotel accommodation overseas? Will such transactions aattract the VAT as well?

  13. David Avatar
    David

    @Hoodie

    The operative words are online transactions. The answer is yes once the booking is done online.

  14. Voters always get tricked Avatar
    Voters always get tricked

    This VAT on Online purchases is a joke.

    This is a double whammy as there is a 17.5 VAT when entering through Customs plus 10 percent NSRL

    Simple calculation 17.5+17.5+10 = 45 percent on Online purchases.

    Barbados is in a cesspool of rot.

    Already one of the most expensive Countries in the world got more expensive.

    Both D and BLP continue the screwing of it’s locals.

    Glad I am on the outside looking in.

  15. de hood Avatar
    de hood

    Mariposita/Ac,

    All you need to do is “WATCH MAM”! I would also suggest you tell Sinckler et al that they do the same and see how a proper Minister of Finance operates! This should be Class 101 for Sinckler, Froons et al!!

  16. de hood Avatar
    de hood

    Ok David, I was hoping she meant tangible, physical items.

  17. Bernard Codrington Avatar
    Bernard Codrington

    @ David at 2:57 PM

    Relax.
    You have to do what you have to do. You will soon be accused of giving me special privileges. And I am not asking for any. There must be a rule of engagement ,the crease of which .I am overstepping.

    Smile.

  18. Tron Avatar
    Tron

    If you would like to have a higher forex inflow, here a plan:

  19. de hood Avatar
    de hood

    David,

    As another blogger pointed out there is already a 17.5% VAT added on by Customs when items are cleared from port of entrty.

  20. Sargeant Avatar
    Sargeant

    In one of Arthur’s recent Press Conferences he said (and I am paraphrasing) that University education wasn’t meant to be free forever, it was a tool to elevate some of the working poor to achieve some of the benefits previously denied to them as they had little or no access to higher education. He said by and large the country had achieved that goal and people like him and many others don’t need the Gov’t to pay for their childrens’ education. The promise of fulfilling a manifesto promise of free education up to and beyond a first degree is regressive, the PM could be more innovative and introduce a means test for those who want to enter university instead of extending the benefit to all no matter their circumstances.

    This constant “freeness” is a burden to the already overburdened tax payers and feeds the expectation of many that the Gov’t is their fairy godmother.

  21. Well, Well Avatar
    Well, Well

    “the PM could be more innovative and introduce a means test for those who want to enter university instead of extending the benefit to all no matter their circumstances.”

    A good way to stagger costs, I always wondered why the wealthy on the island could not pay for their children’s education, seeing as the situation has become dire, only those who qualify through means testing for financial aid, scholarships or grants should get funding from the taxpayers.

    Don’t want to get into the who, but parents who have 6 figure salaries and driving Mercedes and other high end vehicles, should not have taxpayers paying for their children’s education…as I have seen on more than one occasion…which I think is scandalous.

  22. Well, Well Avatar
    Well, Well

    For those who want to take offense, I have said this on here before I believe more than once, it is unfair that taxpayers are paying for the wealthy to go to school and the poor can’t even afford a first degree or whatever…

  23. Voters always get tricked Avatar
    Voters always get tricked

    One correction since the NSRL is being removed there will be a 35 percent VAT plus I forgot to add Duties which can additional add more than 25 percent depends on items imported.

    I also note $45 monthly ($1.50 per day tax) on all households including the poor for water usage.

    No minimum wage set for the working poor set only increased costs.

    Barbados what a facking joke.

    Politicians continue to wreck suffering on the masses whilst living large.

    Happy I don’t as a professional live in the cesspool.

  24. Bernard Codrington Avatar
    Bernard Codrington

    @ Sergeant at 3:28 PM

    Nothing is free. The tax payers generally pays. How ever if the society through a General Election voted for an item in the manifesto, Its wishes should be honoured.

    Education is an investment in human capital and is just as important as factories and highways. It improves the quality of life for all.
    I do think that there should be stricter qualification requirements. There are far too many who do not treat university education seriously. They collect diplomas.

  25. Fractured BLP Avatar
    Fractured BLP

    http://www.nationnews.com/nationnews/news/165634/akanni-talks

    Wow 😳

    The NUPW boss says they are still negotiating with the government.

    Madam PM on Monday in Parliament says she is giving public officers a 5 % salary increase across the board from April 1st 2018 to March 31 2019 .

    So Madam PM ……LEGISLATED this latest salary increase for public officers ???

    So much for the bargaining process !!

    30 seat power in the Parliament of Barbados 🇧🇧 !!!!

  26. Enuff Avatar
    Enuff

    voters always get tricked

    The masses does pay VAT on Netflix and Amazon Prime, or Hula? It is unlikely that online purchases will attract VAT twice. What it will do is ensure everyone pays, not just the ones coming through the port.

  27. Tron Avatar
    Tron

    Barbados needs more grads from UWI for the growing public service. We need at least another 10,000 academics for the public service for the next 10 years. Unemployment rate will soon be zero.

    The international creditors of Barbados who were so shameless to impose high interest rates must obey the democratic will of the people. Pensioners and civil service first, foreign creditors, investors and banks last.

    The day will come when the IMF will beg Barbados to accept a loan offer.

    Make Barbados great again! 😉

  28. BEAUTIFUL BEIGE Avatar
    BEAUTIFUL BEIGE

    Barbados needs to turn back to the “Old Paths” How many graduates have we had and still have and things get worse? Look to our Creator God. It is HE and HE alone, that if we BEG Him for mercy might incline his Grace to an impoverished people. WAKE UP BEFORE IT IS TOO LATE.

  29. Hants Avatar
    Hants

    ” Given the change in the OECD regulations with regard to the residency of corporations, it is expected that a number of companies will now fall into the tax net as a result of the anti-hybrid mismatch rules and thus now make a contribution to corporation tax. This is expected to yield $60M;

    This is interesting.

  30. BEAUTIFUL BEIGE Avatar
    BEAUTIFUL BEIGE

    You all wanted it.

    Now you have it.

    And it’s only just begun.

    There is ABSOLUTELY no difference between the DLP and the BLP.

    The blind leading the blind here in Bim. No hope in sight. Put your trust in Jesus. He promised never to leave you or forsake you and HE DELIVERS ON HIS PROMISES unlike the majority of the politicians in this world with noteworthy exceptions.

  31. de hood Avatar
    de hood

    @Beautiful Beige,
    So who tells you that the Lord God is not inspiring the Hon. PM. MAM to do as she seems good for the country? Or is it that you are saying she is not being inspired by YOUR god!!

  32. David Avatar
    David

    @Sargeant

    There will always be the vulnerable, should the government consider a means test to filter those in need of 100% financing?

  33. de hood Avatar
    de hood

    I wonder why the air in Barbados seems so much fresher these last couple of weeks? Is it because the South Coast is NOW well on the way to being cleaned up?? I congratulate the new helmsperson piloting the Good Ship BIM!

  34. David Avatar
    David

    @Hoodie

    There is the saying that seems to be uttered a lot these days- everybody wants to go to heaven but no one wants to die.

  35. de hood Avatar
    de hood

    David,

    Haven’t heard a truer saying in a long time. (:)

  36. Hants Avatar
    Hants

    Effective October 1, 2018 Airline Travel and Tourism Development tax paid by passengers flying outside of CARICOM of USD$70.( cad $90 ) added to USD $ 27.50 (cad $35.75 )

    That will give the BTA and Travel agents time put a spin on this increase.

  37. Tron Avatar
    Tron

    I really hope that the higher corp tax also applies to the many greedy international business companies. We also need a high tax on captive insurances and international trusts. We also need higher taxes for the three Canadian banks: FCIB, RBC and Scotia.

    All foreign investors must be punished for their greed. They cannot run away. They owe Barbados something.

    Make Barbados great again 😉

  38. Tron Avatar
    Tron

    The higher taxes on tourism will stimulate tourism a lot. The silly tourists have no other choice than to book a holiday in Barbados. They deserve it not better.

    Make Barbados great again 😉

  39. de hood Avatar
    de hood

    @ Tron
    Silly tourists………..? How so?

  40. Tron Avatar
    Tron

    Cynism and too much rum … 🙂 Or call it an argumentum ad absurdum.

  41. David Avatar
    David

    Did the PM say the offshore sector agreed to shoulder some of the expense and will agree to quantum when financials come in later in the year?

  42. de hood Avatar
    de hood

    David,

    Isn’t it possible to block his IP address?

  43. David Avatar
    David

    @Hoodie

    Don’t want to, prefer for the old geezer, John, to waste the precious time he has left on the earth typing nuisance comments on BU that will be flushed. He is good at maths, he can compute the time he has frittered away. It also serves a good purpose for the SEO when he manufactures comments🙂.

  44. Tron Avatar
    Tron

    @David June 11, 2018 4:43 PM

    The offshore financial sector operates with so-called Cuba-clauses. It depends on the specific contract if an offshore vehicle is automatically relocated. Examples: regime change, devaluation, natural disaster. There might also be a clause for massive tax increase or not. A massive capital flight might occur.

  45. David Avatar
    David

    If we accept the PM at her word, there appears to have been consultation with the sector.

  46. de hood Avatar
    de hood

    David

    Why would anyone wish to doubt her at this stage. If that was so then they can contradict her. No?

  47. Georgie Porgie Avatar
    Georgie Porgie

    re everybody wants to go to heaven but no one wants to die.
    THIS IS A STUPID STATEMENT ENSHROUDED IN IGNORANCE
    YOU DO NOT HAVE TO DIE TO GO TO HEAVEN

    ALTHOUGH SO FAR ONLY TWO MEN HAVE BEEN SO TRANSLATED

    THE LORD JESUS CHRIST, HIMSELF TAUGHT IN JOHN 11, THAT FOLK WILL GO TO HEAVEN WITHOUT SEEING DEATH

    IN ADDITION, IT WAS GIVEN TO THE APOSTLE PAUL TO DECLARE IN BOTH I CORINTHIANS 15 AND 1 THESSALONIANS 4:14-18 THAT AT THE IMPENDING RAPTURE MANY WILL BE TRANSLATED WITHOUT SUFFERING DEATH

    FINALLY THERE ARE MANY WHO ARE UNDERGOING THE “BODY OF THEIR HUMILITATION” WHO SEEK TO DIE DAILY

  48. Georgie Porgie Avatar
    Georgie Porgie

    June 11, 2018 4:07 PM

    Barbados needs to turn back to the “Old Paths” How many graduates have we had and still have and things get worse? Look to our Creator God. It is HE and HE alone, that if we BEG Him for mercy might incline his Grace to an impoverished people. WAKE UP BEFORE IT IS TOO LATE.

    WE NEED TO LEARN THE TRUTH OF THE SCRIPTURE THAT SAYS……….EXCEPT THE LORD BUILD THE HOUSE, THEY LABOUR IN VAIN THAT BUILD IT

  49. Hants Avatar
    Hants

    Toronto to Barbados

    WestJet (8.2/10) 5h 18m (Nonstop) Departure airport: YYZ – Arrival airport: BGI 2 left at C$593 return

    Plus cad $35.75 plus $90

    Total $718

  50. de hood Avatar
    de hood

    David,

    Just listening to the lady PM today gave me a boost in confidence that there is hope for this country. She reminded me today as she did so many years ago when she addressed the country as Glendairy Prison was on fire. She conveyed a sense of “things will work out” then and today as well.

    To Hon. PM Mottley

    Go lady PM, we “watching yuh”. And we covering yuh back at de same time! But one word of advice, Lady PM, please do not push yourself beyond healthy bounds. Take care of your health and your health will reward you. May the Holy Spirit be your Guiding Light for many, many more years to come.

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