Comment posted by John A @2019/05/29 at 5:31 pm
…I come home this evening to find a Land tax bill in my mail box for the same amount I paid last year for a 12 month period, however this bill only covering the period from the last bill till now which is only roughly 7 months. So can you tell me if I should go to the Fair Trading Comission and lodge a complaint for receiving a bill for a calender year but only covering a 7 month period?
I mean I ain t got no alphabet behind my name but somehow to pay 12 months in land rental to the government for only 7 months of occupancy seem wrong to me.
Help advise a small man what to do here fellers cause the way I see it this tax period I either getting double bill per months of occupancy, or I get a 50 percent in land tax based on me paying in 7 months what I paid in 12 last year.
So wait next year bill going come out in February then and we going pay a full land tax amount for 8 months next year too?…
Comment posted by Gabriel @ 2019/05/29 at 10:00 pm
Your point is well made.The tax demand is for the Financial Year 2019-20 so that Finance would proffer that the payment can be demanded anytime after April 2019 but in that event the next payment should not be due until April 2020,one year after as you have pointed out.I was around long enough to know that these tax bills offered a 10% discount in the first instance usually in November and a 5% discount in the second instance in December before the full amount is due and payable.Now it’s a 5% discount only after which the full amount is demanded.So we have seen significant changes in the Tax Demand Notice without so much as a whimper from Mr Ryan Straughan. (1)A big increase,(2)less discount for prompt payment and (3)less than a calendar year elapsing before demanding the following year’s payment.Property owners are sitting ducks as are the PAYE class.
Two Land Tax Bills in Eight Months
Comment posted by John A @2019/05/29 at 5:31 pm …I come home this evening to find a Land tax bill in my mail box for the same amount I paid last year for a 12 month period, however this bill only covering the period from the last bill till now which is only roughly 7…
252 responses to “Two Land Tax Bills in Eight Months”
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David
It is always ‘perfect’ for the elites you mentioned.
Again, this thing about ‘citizen advocacy’; is a canard as well.
COW and Kiffin can approach everyday as if election day. While you want poor people to be running down public officials to beg for rights.
No thanks!
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David
Venezuela is maybe the best example of a country, in recent memory, taking their resources from elites and redistributing them to the masses.
Libya, under Ghaddafi, is maybe another
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“But on the technical handling of the foreign debt issue, regrettably, we will have to part ways.”
Nevertheless..i do see why..
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Can you point to a system anywhere in the world the elite and the rich do not manipulate to their financial benefit? Even in the centralized systems there is that group who are located at the pinnacle and benefit. No system is perfect. This is why citizen advocacy must be encouraged but it must be fine smart.(quote from the great philosopher)
Philanthropy is a massive tax incentivised investment stream – family offices and charities. The ex wife of Bezos has just promised to give half her US$35bn to good causes; look at the number of international NGOs, funded by ordinary people, who work in underdeveloped countries. The BBC alone, raises tens of millions of pounds every year for charitable causes. The first thing most lottery winners promise is to give money to good causes.
The man is a fool. Rihanna has set up her own charity. Not a single traditional Barbadian business has ever done so: the Williams brothers, the Caves, none. It is a cultural thing. In Barbados you cannot even get a lawyer to do pro bono work. It is the greed of the poverty stricken.
Grow up and keep quiet. -
What is this idiot from England saying.
That we should produce billionaire and trillionaires and then rely on their good graces, tender mercies, to help the poor.
What a compete cunt!
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@Pacha
There is a difference taking Mugabe style and doing so in a structured way?
The democratic system we boast has as a tenet citizen participation and advocacy does it not? It is the job of government to get the policy formulation and implementation right. To repeat, the poor will always be with us, so too the rich. This is a function of some being more astute than others and in other cases corruption and poorly designed frameworks and governance systems.
This is what it is, we have to continue to work, work harder. Barrington Levy lol.
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David
Fool yourself!
Believe the hype!
If you must!
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David I read your comment from Mr. Mallalueu and I going ask him to please sell me some of what ever he smoking! He has commented that property owners will “only be marginally affected” by the land tax increases. REALLY!
Let me see how that statement holds up to scrutiny based on the below numbers:
Houses between $450k to $850k:
2018 tax rate 0.45%
2019 tax rate 0.7%
INCREASE OF 56 PERCENTHouses over $850:
2018 tax rate .75%
2019 tax rate 1%
INCREASE OF 33 PERCENTAlong with these ” marginal increases” you also have the maximum discount rate falling from 10 to 5%. So in real terms the increases above are really 61 % and 38%.
Don’t forget too your land tax bill for last year was to be paid by October 2018 and this year you have it having to be paid 4 months earlier. So start saving fast cause you got to find 12 months of money in 8 months, plus some extra to cover the above increases.
But don’t worry as some want us to believe these is only ” marginal increases” and we wouldn’t even miss the money!
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@ John
over $850:
2018 tax rate .75%
2019 tax rate 1%
INCREASE OF 33 PERCENT(Quote)Is that not a 25 per cent increase?
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Denominator is 0.75
Numerator is 0.25
John knows what he is doing. -
David what I will say on this matter is that you can be legally right but morally wrong and this is one of these times. I am going to ask you to honestly answer this question and in so doing judge what I mean for yourself.
If I sent you a land tax bill in December for tax year 2021 and then in January 2022 I sent you another land tax bill for tax year 2022, would i be morally correct in doing this or would you see it as unconscionable?
That is legally right vs morally right in a nut shell.
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Hal that would depend if you were a politician or not lol. I used the normal factor formula as outlined by The0gazerts for measuring increase as a percentage of prior to current.
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”
White Oak Advisory, which is representing the government in negotiations, said the creditors’ offer “fails to meet IMF test for debt sustainability, and by quite some margin,” according to an email statement. “It is disappointing that Barbados continues to be faced with this kind of position after almost a year of negotiations.””Help!!!!
Could someone translate that paragraph and the statement from White Oak for me. It seems like when all is said and done the restructuring geniuses are unable to deliver..
Help!!! -
“Mottley said she “will not compromise” on the goal of bringing that ratio down to 60% by 2033.”
Should that be 2023? Is she predicting a three-peat?
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Seems like the creditor committee came up with their own strategy and is not buying the severe restructuring terms that White OAk is selling
“The creditors committee said it put forth an offer two weeks ago “based on terms that aim to support the government’s debt and reform objectives while creating restructured instruments with broad market acceptance.” The committee said it is made up of long-term investors, regional central banks, individual bondholders and financial institutions and represented by advisers Newstate Partners and Washington-based law firm Arnold & Porter Kaye Scholer LLP.
The creditors contend that their offer would have allowed the government to reach its debt target a year later than it wants, according to people familiar with the committee’s negotiations. The committee’s position is that the government’s estimates fail to take into account certain revenue variables and that it is trying force severe restructuring terms on creditors to meet its debt targets, said the people, who were not authorized to discuss the negotiations.”
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The creditors are not getting their money, but to date, White Hoax has received over one million US in retainer fees. I can see why the creditors are not agreeing to what White Hoax is proposing.
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TheOgazerts I read that comment 3 times and can’t come to a clear translation.
Then again if you was receiving $85,000 USD a month you would rush to get a settlement?
It sound like white oak blaming the creditors for not reaching an agreement with them. What they need to understand is you not going to be able to push around foreign debt holders like you did the local ones.
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You cant quote from the Red Book and then dismiss Andrew Mallalieu in the next breath. Who is the editor of the Red Book?
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Any poor bajan including middle class needs to seek higher ground because the fallout from this round of talks between govt and creditors going to be hard and swift
Waiting to hear Mia lyrics in Carlisle park as she protrays herself as an economist looking out for the best interest of the people
Unfortinately the international creditors not interested in political warmed oversoup -
I didn’t dismiss anyone the numbers I Cleary showed did.
Then again maybe to some a 50 % increase is marginal who knows?
Not for me to decide all I did was share the numbers the readers can decide for themselves.
Then again maybe he was misquoted who knows.
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@Hal at 2:55 p.pm
That is what happens when one learns by rote in American, Bajan and Canadian schools.
Sigh!
Sadly I never got to spend evena minute in a proper English school.
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@Green at 3:54
So you thought that Hal understood you and I did not?
Lolll!!!
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@Greene at 3:58
The government did not forgive ANY 21st century taxes.
The government has waived interest and penalties on 21st century taxes.
In any event, all governments/parties were charging extortionate interest rates of 12%, while the banks are paying 1/4%
Governments BLP/DLP make Shylock look like a nice little Sunday school boy.
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@Hal at 4:40
Sure you can get a Bajan lawyer to do pro bono work. I have. But you have to ask nice.
Have you ever asked nice, nice?
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You can’t get blood outta a stone. Property owners who never set foot in a university, will take a look at their tax bill(s) and make some hard headed economic decisions.
I am betting that the government will collect a bit more than last year, but a lot less than anticipated.
I haven’t received all of my property tax demand notices yet, but i anticipate that they won’t all get paid this year, and not because I am bad, but because i can’t.
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Just as when the busfare went up, people started walking the short distances.
So much so that i wondered if the raise in busfares was not about transportation, and not about economics, but rather is entirely a “healthy lifesytle” program in disguise.
Auntie Mia cares enough to want us all to be slim and healthy.
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Always good to see that it is not only me that thinks the former Snr Editor is a complete cant!🤣🤣🤣
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The-O-Gas (H2S)
You onstand what NEGOTIATE, NEGOTIATIONor NEGOTIATING mean? Don’t answer. -
Forgive me, but don’t you own your land and you have your legal Title Deeds, or you paying your mortgage to own the land which the bank holds?
Why should you be renting it?
In the case where the bank hold the Deeds in a mortgage, should not the bank be hold liability?
Then you have no input on the demand that can be inflated for whimsical reasons.. by “qualified” persons giving an opinion…still you gulp the soup with bowl to head…
Does the Government write off Land Tax?
Keeping an eye on Bay Street.
Land tax must be abolished…
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Does the Government write off ITS land tax bill?
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The discounted amount is due by 26 July but the amount before the discount is payable on or before 31st March 2020. Interest is applied to the amount not paid on the 1st April 2020. Land owners have to decide when they will pay.
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For those that were a week or two ago on the White Oak bandwagon about their legitimacy and competence take a quick look at the principals in New State Partners LLP, the firm representing 55% of the foreign bondholders. Note UBS and Houlihan Lokey both feature prominently as the places of employment where these men cut their teeth. Are these the same UBS Warburg and Houlihan Lokey where Sebastian Espinosa worked as well even becoming a Managing Director at HL? The similarity in years’ experience is also telling. Counsel rests.🤐
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To get the discount last year payment had to be made by October 2018. This year to obtain the discount it must be paid by July 2019.
If you compare apples with apples that is 9 calendar months between payment dates, when compared under identical terms for payment.
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Oh, one of the same principals previously advised the Central Bank of Barbados. I wonder if this was during Delisle’s tenure?
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If there were a special tax on financial illiteracy in Barbados, Enuff would certainly pay nothing, but this self-proclaimed ISO engineer would.
The whole debate reminds me very much of the Salemite´s witch hunt with her two crazy exiles. Even if you present as many facts as you want, the mob simply doesn’t listen. They call the honourable prime minister a dictator, but they get away with their lies with no punishment.
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Tron…ah told yall……. if someone was not telling the truth about me on FB for a whole year…ah would do something about it..yall love to sue people for telling truth, torment them, harass them, chase them off the island, threaten them with death, starve them…ruin their and their children’s lives for generations…just because of ya evil minds…and you can’t do anything with 2 women in UK…really..
#yaexpectmetobelievethat
#anduwantustobuythat
#yacanppulltheotherlegnowit’sfree
.
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“Then again if you was receiving $85,000 USD a month you would rush to get a settlement?
It sound like white oak blaming the creditors for not reaching an agreement with them. What they need to understand is you not going to be able to push around foreign debt holders like you did the local ones.”
Sounds more like a WHITE HOAX slow down negotiations strategy to continue getting the taxpayer’s US85,000 a month from the dumb, incompetent asses in parliament for another YEAR OT TWO…for pretending a touch stance negotiation.
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WHITE HOAX HEIST….
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‘In harm’s way’
Article by
Barbados Today Published on
May 31, 2019
Economist Jeremy Stephen has warned that Government could land itself in court if it continues to force its will on external creditors without properly engaging them in dialogue.And just like Argentina in the early 21st century, failure to broker a deal could indirectly result in increased taxes and even food shortages for Barbadians if the standoff is allowed to drag on.”
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**1 “The-O-Gas (H2S)
You onstand what NEGOTIATE, NEGOTIATIONor NEGOTIATING mean? Don’t answer.”Part of my fear is that $85K/month (is that US or BDS) the negotiations may extend for a long period of time and at the end of it the only thing that they successfully negotiate is their salary.
**2 “Note UBS and Houlihan Lokey both feature prominently as the places of employment where these men cut their teeth. ”
Will research this in the afternoon,so as to discover what they were cutting their teeth at. But let me state that whilst two employees may claim 15 years of employment at Goldman Sachs, you would not give the the one who worked as a janitor your money to play with.
We need to move from throwing phrases around to presenting hard and relevant facts.
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It’s a beautiful day in my neighborhood.
Hope you have the same feeling when you look outside.
Feeling on top of my game. Going to work now, but home at noon.
Looking forward to seeing some of my favorites….
Have a great day (HAGD), Barbados -
Wuhloss..the OTHER CORRUPT HALF ..are having a field day…lol, lol, murdahhh!!.
…..Piece…trouble in town..ha,ha,ha..they forgot that they were CUSSING the same creditors and credit rating agencies TOOOOOOO….
CARSON C CADOGAN
Under the DLP Govt., Barbados NEVER MISSED A SINGLE PAYMENT to any of its external creditors(or internal for that matter). They were all paid on time.LET THAT SINK IN.
Under the DLP Govt. Barbados NEVER RESTRUCTURED ITS DEBTS, what was owed to whoever was honoured.
LET THAT SINK IN.
The first time in post Independent history that Barbados defaulted on its sovereign debt obligations was since the May 25, 2018 general elections.
LET THAT SINK IN.
The MIA AMOR MOTTLEY Govt. seem not to realise that THE BORROWER IS THE LENDER’S SLAVE and not the other way around.
LET THAT SINK IN.
MAY 31, 2019 – REPLY
BIG MAN
BLP well on it’s way to been a One Term GovernmentA bloated Cabinet, a Dream Team of Big Head Economist plus Professor La La and the Economy still on a Collision Course.”
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Both wicked governments …KEPT the filthy repulsive SLAVE LAWS ON THE STSTUTE BOOKS OVER 80 YEARS POST-SLAVERY…to ensure their own self enrichment…AND ARE NOW TREATING EVERYONE ….except their scum bribers….LIKE THEIR SLAVES….
…….the result of 2 USELESS GOVERNMENTS…
“The MIA AMOR MOTTLEY Govt. seem not to realise that THE BORROWER IS THE LENDER’S SLAVE and not the other way around.
LET THAT SINK IN.”
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The-O-Gas (H2S)
You’re a light weight. Why the Salemite behaviour? Go sit down and rest yuhself. Why did the FT writer behaved as though White Oak and its principals were amateurs, when apart from the company working on numerous restructures (including Belize that was mentioned in the article) its Managing Director was a former colleague of ALL of the current Directors of New State Partners–the company representing 55% of the bondholders? I hope the below article cleanse you of your appetite for displaying your Salemite tendencies on this matter.
LONDON and LOS ANGELES, June 9, 2005 (PRIMEZONE) — Houlihan Lokey Howard & Zukin, an international investment bank, today announces a major expansion of its Sovereign Advisory Services Group with the joining of five senior officers, all formerly with UBS’s sovereign advisory practice.
The five are led by Derrill Allatt, who joined Houlihan Lokey at the start of the year as a Managing Director, after serving as Managing Director and Global Head of the Sovereign Advisory Services team at UBS. He is now joined by his former colleagues, Spencer Jones, Sebastian Espinosa, Alex Levintaner and Rafael Molina. Spencer Jones became Head of UBS’s sovereign advisory practice after Derrill Allatt’s departure and joins Houlihan Lokey as a Managing Director. Sebastian Espinosa, Alex Levintaner and Rafael Molina join Houlihan Lokey as Directors.
All join Houlihan Lokey’s Sovereign Advisory Services Group in the firm’s London office. The Group focuses on debt management, debt restructuring, and other advisory services to sovereign governments, for example, currently advising the Republic of Iraq on the restructuring of an estimated $18 billion to $20 billion of debt owed to non-Paris Club bilateral creditors.
James Zukin, Senior Managing Director of Houlihan Lokey, said: “These highly experienced professionals bring an unrivaled track record in developing innovative solutions to sovereign debt problems, as well as the deliberative style that is important in this business. The ability to attract this level of talent speaks to the growing advantage of being a financial advisor that does not trade, underwrite or initiate sovereign debt.”
Derrill Allatt said: “Houlihan Lokey’s longstanding global leadership in financial restructuring and its extensive experience negotiating with creditors of all types should make the firm the advisor of choice for nations requiring outstanding debt management advice.”
Mr. Allatt and his team have provided advice on more than 30 Paris Club debt restructurings, and have been involved in many of the recent high-profile restructurings of official and private sector external debt for middle-income countries, including the Dominican Republic, Ecuador, Indonesia, Pakistan, Russia and the former Yugoslavia. Sebastian Espinosa has advised Ecuador, Pakistan and most recently the Dominican Republic, including on their successful bond restructuring implemented earlier this year. Alex Levintaner has been working with the Russian Government since 1998, most recently advising on Russia’s negotiations with the Paris Club on prepaying its Soviet-era rescheduled obligations. Rafael Molina has advised countries such as Indonesia and Peru on debt matters in recent years, including Peru’s recent negotiations with the Paris Club on prepayment.
Houlihan Lokey’s Sovereign Advisory Services Group is based in London and Los Angeles. Principal services offered by the group include: the restructuring of sovereign debt owed to official creditors through the Paris Club; the restructuring of debt owed to bondholders, commercial banks and other creditors; domestic debt restructurings; borrowing strategies; liability management; evaluation of financing offers; institutional arrangements for debt management; privatizations; investor relations; and advice on sovereign credit ratings.
About Houlihan Lokey Howard & Zukin
Houlihan Lokey Howard & Zukin, an international investment bank established in 1970, provides a wide range of services, including mergers and acquisitions, financing, financial opinions and advisory services, and financial restructuring. Houlihan Lokey has ranked among the top 10 M&A advisors in the U.S. for the past five years, has been the No. 1 provider of fairness opinions for the past five years, and has one of the largest worldwide financial restructuring practices of any investment bank. The firm advised major parties in interest in 17 of the 25 largest U.S. corporate bankruptcies from 2000-04, including the three largest bankruptcies of all time: WorldCom, Enron and Conseco. The firm has more than 650 employees in nine offices in the United States and the United Kingdom. It annually serves more than 1,000 clients ranging from closely held companies to Global 500 corporations. For more information, visit Houlihan Lokey’s Web site at http://www.hlhz.com.
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So all don’t know any black people…….WITH THE SAME OR EVEN BETTER EXPERTISE AND EXPERIENCE….in finance…ya can only put up posts about whites and others…to boast about while having to pay them multimillions…st the expense of taxpayers..
Ya HINTING ….that despite the boast of the best education in the Caribbean if not the world…that ya got NONE…
wuh the world is riddled with them…
Yall need to get out some more..and meet ya black kin who know how to do the same things or even better for an economy….after ya kicked out of parliament….
#happensonlywhenyamiseducatedanddumbasrocks.
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@WURA at 6:25 “food shortages”
It is a good thing that as usual I planted the yams, cassava and okras on May 1st.
Drought notwithstanding when I checked on Wednesday the yam shoots were beginning to peep through. The rain yesterday and today should bring all the shoots through by the middle of next month.
Thank the Lord for always sending the rain.
Can’t always assume that we will be able to pay for 40 foot containers of food from Miami.
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AMEN…..President Simple…
the commonsense lacking, financial illiterates of parliament….are yet to understand this…
It’s simple economics, no degree needed.
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The opposition leader Verla Da Pieza comes over as being better prepared in the meet the press program this morning. She is bringing good emotional arguments resonating with the people.
She also raised the issue covered in this blog.
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David May 30, 2019 3:53 PM
@Pacha
Tax policy will always stoke debate. The government needs revenue derived from taxes. Many owe taxes both the rich and the poor.
The vulnerable will always be with us and must be protected. However, we know collecting taxes in Barbados is an inefficient business. BRA was meant to address the leaking tax bucket. We know the result.
One expects government to address the concern raised here tomorrow on the radio show? They are scheduled to meet the VoB press and public. We need a system which looks to be equitable knowing at the same time there is no perfect system.
++++++++++++++++++++++++++++Can anybody tell me who could be more vulnerable than medically unfit people who are unable to work??????
Why is this “CARING GOVERNMENT” taking away their pensions forcing them into poverty and homelessness???
Why is this government RE-INTERPRETING THE LAW to effect this inhumane and ultimately deadly policy?
Can somebody explain to me why Members of Parliament, the Judiciary and the Governor General should be exempt from the two pension rule?
Why is this “CARING GOVERNMENT” still MUM on this deadly move????? Are they hoping that the noise will die down as it normally does and that the affected people will adjust to having their already inadequate income reduced almost by half?
Newsflash – These people cannot adjust. They will have to choose between food and shelter. Many will have their homes repossessed and be kicked out onto the streets. How does this government expect to hide when a kidney patient on dialysis is forced to live on the streets as a result of this new interpretation of the law?????
I hope this “CARING GOVERNMENT” knows that a class action lawsuit is brewing and they will ultimately be responsible for the damages that these invalids will inevitably suffer, including the financial loss of the equity these people have built up over many years, the pain and suffering in the form of depression and exacerbated illness that is bound to occur and maybe even worse – DEATH?
Oh no! this is NOT going to die down! This is NOT going to be hidden. This is going to be really BAD NEWS for this “Caring Government”. This time the BLOOD ON THEIR HANDS is going to be VISIBLE and TRACEABLE. There will be DIRECT LINKAGES. CAUSE and EFFECT will be obvious..
A word to the wise.
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@Donna
Minister Colin Jordan who represented government confirmed the they revert to the status who I.e. those had were receiving disability and pension will continue.
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