Budget 2021/2022

[MaxPower]

The general population seems very pleased with the budget.

PNM 2025 draws closer to us.

[Gladiator]

The general population seems very pleased with the budget.

PNM 2025 draws closer to us.

Max go and eat your crix and sardine and drink yuh balisier juice and sleep nah boy.

[MaxPower]

The general population seems very pleased with the budget.

PNM 2025 draws closer to us.

Max go and eat your crix and sardine and drink yuh balisier juice and sleep nah boy.

K bro now heading in.

Sweet dreams.

[Dizzy28]

There is a band. Over 1m pays 30% on the excess income over the mil.

there were tiered income tax bands in the 80's and 90's, no?

Doh bring back that sheit nah

So you fine it fair ,honestly, with the current structure ?

[Redman]

We should work on ensuring all who supposed to pay..actually paying.

[Premchand1976]

Instead of trying to tax the higher income earners over 25% , why not have a scaling system ? 100k and under 10% 100-200k 15%, etc etc ? Why must the higher income earners be taxed more ? Punishment for doing and making the sacrifices to earn more ???? That's kinda backward thinking ain't it

[hover11]

We should work on ensuring all who supposed to pay..actually paying.

How? Doubles vendors and maxi drivers making thousands a day non taxable income look the route 2 maxi taxi association just raised fares 10 dollars to POS from Arima......how do you tax ppl who you depend on to honestly declare their income

[hover11]

Instead of trying to tax the higher income earners over 25% , why not have a scaling system ? 100k and under 10% 100-200k 15%, etc etc ? Why must the higher income earners be taxed more ? Punishment for doing and making the sacrifices to earn more ???? That's kinda backward thinking ain't it

The US does it they seem to be doing just fine

[Blaze d Chalice]

Instead of trying to tax the higher income earners over 25% , why not have a scaling system ? 100k and under 10% 100-200k 15%, etc etc ? Why must the higher income earners be taxed more ? Punishment for doing and making the sacrifices to earn more ???? That's kinda backward thinking ain't it

That is why you need to be wise on where you putting your money.

[viedcht]

We should work on ensuring all who supposed to pay..actually paying.

How? Doubles vendors and maxi drivers making thousands a day non taxable income look the route 2 maxi taxi association just raised fares 10 dollars to POS from Arima......how do you tax ppl who you depend on to honestly declare their income

I don't know why doubles people and taxi/ maxi men does be brakesing tax. Almost anybody in retail can doc their books to understate profits.

[viedcht]

150k annually is not wealth bruv!!

How can you do what you have to do when utilities are increasing , gas, property tax, groceries increasing, while your salary remains the same. Isn't your standard of living being affected? I not bashing you , you have a right to support who you wish just asking.

Every budget since the beginning of budgets have come with increased costs and higher prices.

AAAAAALLLLL

Why would anyone think this one supposed to be different?

And the day after every budget- you still have to get up and make things work.

Remember when every budget day use to have long lines by the gas station?

All budgets come with expected increase in something. I'd be content if the PA had increased to 100k though. That would definitely offset expenses in other areas.

Thank you that 72000 PA is nonsense, we need a wealth tax , once you making over 150k annually you should be taxed more but that will never happen because we don't tax the rich here we just tax and erode the middle class into poverty

I know what I was thinking is like 10k salary is nothing to make but the ppl who making over 10 k let's say 13k need to pay more tax to make the system fair this 25 percent across the board once the 84k PA is reached isn't really being fair on the system or the ppl




For example NIS structure you pay more NIS based on your gross income ,PAYE should be like that not this 25 percent flat

u talking about every citizen who making over 10k salary should pay more tax??

Over 13k....is a better system than what we have now. Where everybody paying 25 percent of their taxable income , the higher you go more robust we tax but a change is definitely needed in the system

You're reaching the upper level ranges of the public service with that figure. Senior consultant doctors, senior pharmacists, head-of-sections, and other posts make 14k average. And the Business Levy is there for small to medium businesses. And there's a 30% taxation for over $1M. individual income bracket.

[hover11]

150k annually is not wealth bruv!!

Every budget since the beginning of budgets have come with increased costs and higher prices.

AAAAAALLLLL

Why would anyone think this one supposed to be different?

And the day after every budget- you still have to get up and make things work.

Remember when every budget day use to have long lines by the gas station?

All budgets come with expected increase in something. I'd be content if the PA had increased to 100k though. That would definitely offset expenses in other areas.

Thank you that 72000 PA is nonsense, we need a wealth tax , once you making over 150k annually you should be taxed more but that will never happen because we don't tax the rich here we just tax and erode the middle class into poverty

I know what I was thinking is like 10k salary is nothing to make but the ppl who making over 10 k let's say 13k need to pay more tax to make the system fair this 25 percent across the board once the 84k PA is reached isn't really being fair on the system or the ppl




For example NIS structure you pay more NIS based on your gross income ,PAYE should be like that not this 25 percent flat

u talking about every citizen who making over 10k salary should pay more tax??

Over 13k....is a better system than what we have now. Where everybody paying 25 percent of their taxable income , the higher you go more robust we tax but a change is definitely needed in the system

You're reaching the upper level ranges of the public service with that figure. Senior consultant doctors, senior pharmacists, head-of-sections, and other posts make 14k average. And the Business Levy is there for small to medium businesses. And there's a 30% taxation for over $1M. individual income bracket.

You wouldn't recommend any changes to our taxation system or leave it as is? Just seems kind of unfair to me the middle class are the ones basically shafted every time, nothing is ever in their favor

[viedcht]

there were tiered income tax bands in the 80's and 90's, no?

Doh bring back that sheit nah

Economist pardna mentioned if that comes back it may encourage 'brain drain' on some level. Which will eventually adversely affect the economy.

I leave it to experts.

[Redman]

We should work on ensuring all who supposed to pay..actually paying.

How? Doubles vendors and maxi drivers making thousands a day non taxable income look the route 2 maxi taxi association just raised fares 10 dollars to POS from Arima......how do you tax ppl who you depend on to honestly declare their income

Well I think it would be more productive for BIR to tackle noncompliance from the top down.
White collar and corporate evasion and land fraud is where the numbers are highest.

This is 2021 and doubles and taxi work is hard but I would suggest that they are valid businesses generating profits for the owners ...and they benefit from subsidies etc.

Fair is fair...we all struggling...

[viedcht]

150k annually is not wealth bruv!!

Remember when every budget day use to have long lines by the gas station?

All budgets come with expected increase in something. I'd be content if the PA had increased to 100k though. That would definitely offset expenses in other areas.

Thank you that 72000 PA is nonsense, we need a wealth tax , once you making over 150k annually you should be taxed more but that will never happen because we don't tax the rich here we just tax and erode the middle class into poverty

I know what I was thinking is like 10k salary is nothing to make but the ppl who making over 10 k let's say 13k need to pay more tax to make the system fair this 25 percent across the board once the 84k PA is reached isn't really being fair on the system or the ppl




For example NIS structure you pay more NIS based on your gross income ,PAYE should be like that not this 25 percent flat

u talking about every citizen who making over 10k salary should pay more tax??

Over 13k....is a better system than what we have now. Where everybody paying 25 percent of their taxable income , the higher you go more robust we tax but a change is definitely needed in the system

You're reaching the upper level ranges of the public service with that figure. Senior consultant doctors, senior pharmacists, head-of-sections, and other posts make 14k average. And the Business Levy is there for small to medium businesses. And there's a 30% taxation for over $1M. individual income bracket.

You wouldn't recommend any changes to our taxation system or leave it as is? Just seems kind of unfair to me the middle class are the ones basically shafted every time, nothing is ever in their favor

It is fair as a business model. The tier system might help with revenue, but I don't support it if my tax dollars not properly managed. The Management is the biggest flaw.

[matr1x]

Where is Habit7? Time to cuss he MC

[Dohplaydat]

Just increase VAT, to 20% easiest way to collect taxes from those who evade.

[SuperiorMan]

150k annually is not wealth bruv!!

Every budget since the beginning of budgets have come with increased costs and higher prices.

AAAAAALLLLL

Why would anyone think this one supposed to be different?

And the day after every budget- you still have to get up and make things work.

Remember when every budget day use to have long lines by the gas station?

All budgets come with expected increase in something. I'd be content if the PA had increased to 100k though. That would definitely offset expenses in other areas.

Thank you that 72000 PA is nonsense, we need a wealth tax , once you making over 150k annually you should be taxed more but that will never happen because we don't tax the rich here we just tax and erode the middle class into poverty

I know what I was thinking is like 10k salary is nothing to make but the ppl who making over 10 k let's say 13k need to pay more tax to make the system fair this 25 percent across the board once the 84k PA is reached isn't really being fair on the system or the ppl




For example NIS structure you pay more NIS based on your gross income ,PAYE should be like that not this 25 percent flat

u talking about every citizen who making over 10k salary should pay more tax??

Over 13k....is a better system than what we have now. Where everybody paying 25 percent of their taxable income , the higher you go more robust we tax but a change is definitely needed in the system

You're reaching the upper level ranges of the public service with that figure. Senior consultant doctors, senior pharmacists, head-of-sections, and other posts make 14k average. And the Business Levy is there for small to medium businesses. And there's a 30% taxation for over $1M. individual income bracket.

Consultant doctors make way more than that.

[Redman]

Additionally, having a higher compliance number creates a level playing field for tenders and for business in general.

What's the point of changing a unenforced system?

100% tax in a non compliant system will not give the results we looking for.

[Ben_spanna]

3 Audi E-trons loaded, 2 Taycans and 4 teslas Model X on order and will be shipped in late December so that in January they can can be legally licenced without any taxes, way to go Imps butt . really looking out for the peeps, sorry the rich folks.

[zoom rader]

there were tiered income tax bands in the 80's and 90's, no?

Doh bring back that sheit nah

Economist pardna mentioned if that comes back it may encourage 'brain drain' on some level. Which will eventually adversely affect the economy.

I leave it to experts.

There is already a brain drain as more grads are leaving.

Most of the skilled Petrotrin workers have since migrated.

Soon the UK will be looking for Teachers and nurses again

[hover11]

there were tiered income tax bands in the 80's and 90's, no?

Doh bring back that sheit nah

Economist pardna mentioned if that comes back it may encourage 'brain drain' on some level. Which will eventually adversely affect the economy.

I leave it to experts.

There is already a brain drain as more grads are leaving.

Most of the skilled Petrotrin workers have since migrated.

Soon the UK will be looking for Teachers and nurses again

Correct ppl acting like when GATE was free for all, there wasnt a massive brain drain as soon as graduates were issued their certification. The economy on the whole at the moment facilitates brain drain due to lack of opportunities for persons in their respective educational backgrounds

[Dizzy28]

Just increase VAT, to 20% easiest way to collect taxes from those who evade.

Whilst increasing taxes on those who already paying their fair share i.e the salaried middle income earners, unless you have a way to charge VAT only to those already avoiding taxes.

[zoom rader]

Just increase VAT, to 20% easiest way to collect taxes from those who evade.

This is true

I live in the Cayman Islands and they have no income tax , no one pays any income taxes .

But everything you buy there is a 22% import tax you have to pay. There system is different as their work force are all expat work permits where the employer has to pay a fee to the government for each worker per year.

So the employer kinda pays a tax and you the worker does not pay.

[hover11]

Just increase VAT, to 20% easiest way to collect taxes from those who evade.

Whilst increasing taxes on those who already paying their fair share i.e the salaried middle income earners, unless you have a way to charge VAT only to those already avoiding taxes.

Wouldn't raising vat to such an excessive amount increase the prices of goods and services thus increasing the headline inflation rate more?

[Dizzy28]

Just increase VAT, to 20% easiest way to collect taxes from those who evade.

Whilst increasing taxes on those who already paying their fair share i.e the salaried middle income earners, unless you have a way to charge VAT only to those already avoiding taxes.

Wouldn't raising vat to such an excessive amount increase the prices of goods and services thus increasing the headline inflation rate more?

You assume Daran knows how VAT works

[zoom rader]

Where is Habit7? Time to cuss he MC

She back in Jamaica

[hover11]

Where is Habit7? Time to cuss he MC

She back in Jamaica

I haven't seen him on here for a while it's like they just disappeared days before the budget

[zoom rader]

Where is Habit7? Time to cuss he MC

She back in Jamaica

I haven't seen him on here for a while it's like they just disappeared days before the budget

Her contact probably came to an end even that idiot elect2020 has gone.

[Dohplaydat]

Just increase VAT, to 20% easiest way to collect taxes from those who evade.

Whilst increasing taxes on those who already paying their fair share i.e the salaried middle income earners, unless you have a way to charge VAT only to those already avoiding taxes.

Wouldn't raising vat to such an excessive amount increase the prices of goods and services thus increasing the headline inflation rate more?

You assume Daran knows how VAT works

Fools, no taxing system is completely fair.

But given all the freaking black market money and tax evasion going on, increasing VAT is the easiest way to collect revenue. The problem with this lies in the tax gap, which increases....to idiots like yourselves this means the lower-income pays a higher proportion of their income in taxes. Something we want to avoid. However, VAT is generally a good tax as it's based on consumption.

You combat the inequality increase by lowering income tax (perhaps raising the untaxed bracket), allowing VAT claims (maybe up to $500) on those who make minimum wage etc, increasing the minimum wage, giving some more subsidies on benefits.

Fairness in taxing is a complex economic topic, however, it is always recommended that when you have issues collecting taxes, VAT is the easiest way to recoup those lost taxes.

As for inflation, yes you would expect it to rise, however, with many price-sensitive goods and services you can expect businesses to absorb some of the costs.

Anyway, now is probably not the best time to increase VAT, we need to stimulate the economy and encourage spending. This VAT discussion was related to tax evasion.