Thursday, November 1, 2012

TRACKING THE VAT $$$

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7 comments:

Anonymous said...

I more believe Kenny has more of an interest in tracking his pension- not VAT-

All of a sudden he is this salesman running all over the media trying to smooth out the mess he made out of the implimentation of VAT

November 1, 2012 at 7:45 AM
Anonymous said...

Boy! Am I confused!

or:

Is the PM the one that is confused?

Sure bet, he is confusing me.

You see what happens when a leader has little experience and a smattering of knowledge about that arcane subject called economics?

What is being communicated loud and clear here is that the VAT is a revenue generating mechanism and is a sideshow to other taxation measures.

Whereas, those who know better, would be aware that a VAT is a supposed to be a replacement tax and an exercise in tax simplification.

It is not supposed to be the hodge-podge of administrative and public policy confusion of which we are now so and most painfully aware.

What a bunch of tinkerers from head down, we have as the implentation group!

November 1, 2012 at 8:28 AM
Anonymous said...

Don't worry. This guy call Micah George who works for the VOICE and SLP will find a way to spin it. LOL

November 1, 2012 at 11:19 AM
Anonymous said...

I like that --the voice and Micah are mouth pieces for the SLP.

November 1, 2012 at 2:32 PM
Anonymous said...

One tell-tale sign that has telegraphed the abject confusion of this administration regarding the VAT is that there is little public discussion of a key concern of implementation. And that is "revenue neutrality".

Right now, the Minister of Finance is sure indicating that there is not enough rigor in the tax collection in the country -- whether under the old system or the modified system. (Up to now, it does not appear to be all that new.)

The problem is therefore not the VAT per se, but tax a problem with tax collection.

When I listened to the former Minister of Finance, there was even more confusion.

That one did not show any appreciation for the difference between tax collection and tax yield.

To conflate the two is rather unfortunate.

This new Finance Minister has failed to make the clear policy distinction between these two concepts and issues. One calls for compliance legislation or clauses regarding tax collection.

Tax yield, requires careful calibration of the rate of VAT imposed on the general population, with a focus on how much will be collected at that rate at the current rate of compliance.

November 1, 2012 at 4:45 PM
armchair anonymous said...

The Syrian and Indian/Asian community are the biggest revenue earners in St Lucia - are they in compliance with the St Lucia VAT laws?

I wonder?

Will the VAT debt collectors also close a blind eye to their methods of business?

Case in point, the few times I have done bought items from these "mongers", their sales receipts - if any is given at all - are shoddy, not up to standard, and lacking pertinent information.

In most countries, the VAT amount on a sales bill is always shown, as well as the retailer's VAT registration number. Is this being done in St Lucia? At least to show the retailers VAT registration number? uh-uhhh!!

Their method of doing retail business has always been a concern to me. I happen to like transparency.

November 5, 2012 at 9:42 AM
Scott said...

I more believe Kenny has more of an interest in tracking his pension- not VAT- All of a sudden he is this salesman running all over the media trying to smooth out the mess he made out of the implimentation of VAT

March 4, 2013 at 6:06 AM

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