With budget surpluses allowing reductions in import taxes for diesel fuel used by the power company, a 2% reduction in import taxes, reductions in business license fees, and a 2.5% gratuity bonus for civil servants, it seems Cayman has turned the corner to fiscal responsibility? Read more from the Cayman Compass here…
I'm told Cayman has already set up a special economic zone with fast track work permits and this is expected to take more business away from The Bahamas, growing their economy even more.
Meanwhile, here at home, The Bahamas government is spending precious time trying to figure out how to tax Bahamians more.
So, as we sit with bated breath today listening to patriotic rhetoric from the governing party about why we need to pay even higher taxes, maybe, just maybe, some parliamentarians will be researching and advising how they might provide the appropriate environment where entrepreneurs and businesses will grow the economy.
