Wednesday, February 10, 2010

VAT on Water and Electricity

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6 comments:

Anonymous said...

Vodaka And Tonic to get you'll plee sou.Please try to solve the crime problem before raising any more taxes on the poor people.

February 11, 2010 at 10:21 AM
Anonymous said...

The VAT is being touted as REPLACING certain existing taxes.

Imposing it on water & electricity is ADDING a massive new tax during a recessionary period.

This is not only contrary to the PR gloss of "more efficient tax collection", it is also incredibly bad and shortsighted economic policy.

What 'Techno-rat' thought this one up?

February 11, 2010 at 3:51 PM
Anonymous said...

It all starts with tax on a little bit of excess consumption, and then in 2-3 years it ends up as a fully blown-up TAX on the entire amount.

Vote with your feet.

February 12, 2010 at 7:50 AM
zapon said...

The UWP government is basing it's future revenue on the income generated by VAT. But all this will come at a steep price to the "mar-lay-way." During the first year of initiating the VAT will be a 20-30% increase on all items. This is because according to VAT laws, the stocks that busineses already have in their warehouse and have paid tax on before April, if VAT is passes, will be entitles to pay the additional 15% VAT. And, it up to the business to pass that additional cost unto the consumer. That could be chaos since there is no price control in St. Lucia. Already, the people are not too thrilled on paying tax on water and electriclty. There are still many surprises to come.
Business making less than $200,000 will not be eligible to charge VAT directly to the customer, but their prices will reflect the VAT charged to them when they purchase from the bigger businesses. Again...free market...no price control!
The UWP government is depending on the VAT income, but the problem will be the collection of the tax revenues. What will be needed to put in place is a more efficient tax collection system, and we know the word EFFICIENT is not in this administration's vocabulary.

February 12, 2010 at 10:15 AM
Anonymous said...

No big deal with that. In the realy world that we in the Islands copy from that's normal.Get on with this.

The Gov simply has to level with the public on which items are zero rated such as food stuff, and which taxes and freight, stamp duty, what have you, will be eleminated at point of landing in St.Lucia.

Also Gov has to put a system in place to collect this revenue at point of sale from merchants, entrepreneurs, trades personel,etc.

Also Inland Revenue WILL HAVE TO DOUBLE UP on revenue collection and enforcement. E.G In Canada, Revenue Canada sends out every 3 months a remittance voucher to all registered and active business type,whereby you submit your gross revence,etc GST -goods & service tax 5% and PST provincial sales tax 8% for remitance to revenue Canada, that simple.

Should you not complie, you are accessed and you business bank account and other accounts are garnish for payments, along other measures.

Business have to adapt and move quickly,like wise the general public.

February 12, 2010 at 1:04 PM
Anonymous said...

In years to come or just maybe this year itself we will just have to start burying people next to their house since there will be VAT on funeral expenses. Clever way to get money cuz people have to die so UWP government say thats a good way to get money for us to go on trips Tax funeral expenses. What the hell is this country coming to. It will not be surprising to see VAT applied to hospital bills for new born babies.

February 14, 2010 at 4:38 AM

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