As noted Friday, the devil is in the details of the VAT legislation, not the language used in an attempt to make it palatable.
Accordingly Bahamians should watch the language used by the political class.
The Government is not asking for more taxes through the introduction of VAT they say. The point is they are going to take more taxes, whether we like it or not. Otherwise how will they get more revenue they claim they so badly need?
Reducing borrowing and spending is the key of course.
They will say anything to make their goal seem noble. They're already twisting the discussion in that manner. Watch for more of it.
It might also be of interest to see what the Chamber of Commerce will have to say about VAT? Have they already acquiesced? They're awfully quiet so far.
Even if they think it makes sense, isn't their job to defend the interest of the business community? Regretfully experience shows the Chamber eventually rolls over as they don't get our support or their President follows the political electorate blindly and convinces his/her Board to go underground.
Yup, my stomach is turning.
