What is the PNM's plan for the economy?

[drchaos]

These are all measures that should have been put in place 5+ years ago ... Where are all the innovative measures to grow the economy? Like legalizing weed and prostitution and taxing the sheit out of it. Giving tax concessions to companies that bring in more foreign exchange than they spend. Providing low interest loans for startups and small companies. Agricultural institute that focuses on efficiency, research into crops and distribution/education of seeds/plants to local farmers.

Clueless bunch of politricksters ... the whole lot of em

[ingalook]

That 7% internet tax works out to more like 10% when VAT and duty are added to it

[DVSTT]

God forbid they go after all the billions pocketed by past administrations.

[Habit7]

GOVERNMENT SAID THEY WERE BRINGING RAPID RAIL IN THE LAST BUDGET IN OCTOBER!!!!!!!!!!! I didn't predict that in January!

Firstly, lower your caps.

The govt said, even before Sept 7 that they would invite IDB and would only proceed if they approve.

[*$kїđž!™]

No facking plan....just run it to the ground

[pugboy]

total (tax+duty) x vat will be about 44% instead of 35% approx
folks who bring stuff via skybox to resell will have to markup even more,

That 7% internet tax works out to more like 10% when VAT and duty are added to it

[York]

then don't bring by skybox or buy from ppl who import in bulk, air or ocean freight reduces the unit shipping cost.

[hong kong phooey]

Ah know I a retarded question and i could could listen to that idiot speech or read it in the papers.
But when does the 7% tax on Amazon shopping go into effect. And does this tax apply to items bought before the budget was read?
I have stuff coming in that was purchased before yesterday's budget.

[hong kong phooey]

No facking plan....just run it to the ground

they have a plan
take care of certain people in the country.
the rest have to suffer
Does the prime minister need a million dollar car to drive around in
Do we need to do the work on the Toruba stadium
Do we need the red House refurbishment ?

[j.o.e]

Ah know I a retarded question and i could could listen to that idiot speech or read it in the papers.
But when does the 7% tax on Amazon shopping go into effect. And does this tax apply to items bought before the budget was read?
I have stuff coming in that was purchased before yesterday's budget.

It's not happening until September ... Your items are safe

[urbandilema]

I have a small question..has the super subsidiaries stop or meaning any more raise in super for the future...just asking

[Redman]

They should just tax it like duties and let the couriers collect and remit.

of course people will just ship to family and send as a gift-
Everything Ive bought on line is priced so that we can buy,ship,clear,tax and deliver at 65% of the cost an earlier crappier model is available for here.
That 7% is an annoyance but not sufficient to change the dynamic.
I THINK THATS THE POINT.
Not to kill online shopping-but to raise revenue on the activity.

Lets see some business people get jammed for under invoicing their containers.
Lets see some customs officers get jail for giving preferential treatment.

What would we prefer?
Porous customs and excise-allowing importation of inferior,cheap untaxed goods
or
Air tight borders with the costs passed on to us-but the GORTT gets the revenue legally due?

[zoom rader]

In this budget PNM financiers well taken care of.

Citizens are now paying 7% more for US while PNM financiers have all the free access to US.

Plus ppl will buy their Rangers as it is now cheaper than a 2l.

RORO getting more squeeze for US. ANSA are the real owners of Trin.

[zoom rader]

They should just tax it like duties and let the couriers collect and remit.

of course people will just ship to family and send as a gift-
Everything Ive bought on line is priced so that we can buy,ship,clear,tax and deliver at 65% of the cost an earlier crappier model is available for here.
That 7% is an annoyance but not sufficient to change the dynamic.
I THINK THATS THE POINT.
Not to kill online shopping-but to raise revenue on the activity.

Lets see some business people get jammed for under invoicing their containers.
Lets see some customs officers get jail for giving preferential treatment.

What would we prefer?
Porous customs and excise-allowing importation of inferior,cheap untaxed goods
or
Air tight borders with the costs passed on to us-but the GORTT gets the revenue legally due?

All these taxes and citizens do not benefit.
We still have chitty service given to us by this government, hostile lazy public servants.
A simple government transactions can take days when it supposed to take minutes. Everything in government inefficient, governments services are inefficient.

Only PNM financiers benefited from this budget.

Don't forget another budget is coming in September, more taxes

Remember more taxes equal more crime, both from government and bandits

[DVSTT]

They should just tax it like duties and let the couriers collect and remit.

of course people will just ship to family and send as a gift-
Everything Ive bought on line is priced so that we can buy,ship,clear,tax and deliver at 65% of the cost an earlier crappier model is available for here.
That 7% is an annoyance but not sufficient to change the dynamic.
I THINK THATS THE POINT.
Not to kill online shopping-but to raise revenue on the activity.

Lets see some business people get jammed for under invoicing their containers.
Lets see some customs officers get jail for giving preferential treatment.

What would we prefer?
Porous customs and excise-allowing importation of inferior,cheap untaxed goods
or
Air tight borders with the costs passed on to us-but the GORTT gets the revenue legally due?

You really think anyone businessman gonna get jammed or anyone will make a jail?

[Chimera]

lol the thing is, all this money they collecting

going to go into preferred contractors pockets
not to upgrade government services.

but that is politics
no one gets into politics to help people
they go there to become millionaires

[Gladiator]

lol the thing is, all this money they collecting

going to go into preferred contractors pockets
not to upgrade government services.

but that is politics
no one gets into politics to help people
they go there to become millionaires

Correction "Billionaires"

[The_Honourable]

Dated article but relevant now:

Don’t tax online shopping

It is not wise to impose additional taxes on goods purchased via online shopping, according to the American Chamber of Commerce of Trinidad and Tobago (AmCham T&T).

Finance Minister Colm Imbert had said that the taxing of online shopping is being considered by the Government. He said online shopping is an “area of tremendous leakage” of this country’s foreign exchange.
In a release, AmCham urged the Government to proceed with caution in its attempt to raise a further $6 billion in revenue from tax collection.

“AmCham T&T does not think it wise to impose additional taxes on goods which are purchased online. In the current system, when a customer purchases goods online, and it is brought in legally through a properly-functioning courier company, VAT is collected as well as all other required taxes. We believe that imposing additional taxes on online shopping will not deter it but instead run it underground and damage a thriving industry,” stated the release.
AmCham T&T urged the Government to look at alternatives through more efficient tax collection.

“We must also be cognizant that businesses use the courier industry to import machinery, medicine and other important production inputs. For many, the courier industry offers them an efficient method of ‘Just In Time’ operations,” it added.

AmCham T&T suggested that measures be implemented for the proper regulation and oversight of the industry to ensure that those who are not compliant are dealt with and those who are, are allowed to trade.
It is imperative, stated AmCham T&T, that compliant companies have incentive to do business as these companies continue to add value to the local economy. Many local companies in express delivery are now global companies as a result of their work.

“In lieu of taxing online shopping, we suggest that the Government take a look at the establishment of a de minimis value for every merchandise. The de minimis is where items under a certain value are not taxed because the paperwork as well as the time spent to collect tax on these items cost more than the actual tax collected. We recommend a modest US$200 de minimis threshold be implemented, even though various international studies show a US$800 to be a more efficient value. Setting a de minimis value will help further focus scarce resources,” it stated.

AmCham T&T indicated that it has set up an Express logistics sub-committee, which comprises companies within the courier industry, and specifically deals with the challenges present within that industry.

“We at AmCham T&T continue to dialogue and work with the Government on the efficiency of the tax system and possible implementation of de minimis,” the release added.

Source: http://www.trinidadexpress.com/20151018 ... e-shopping

[The_Honourable]

According to his mid-term budget speech on the online tax:

"This measure is set to take effect in September 2016 and it will require discussions with banks and the credit card companies in order to make it work.”

So the aim is to shaft us when we are using our credit card online. This is what I did in the past:

I opened a bank account in the United States, stored US currency there, and use that bank's debit card (our equivalent to Linx except that theirs have the Visa or Mastercard logo so it can be used internationally also) for online shopping or when i travel to the states. Bigger companies for sure can use this "loophole" to get away from the tax.

The bank i was dealing with at the time was Wachovia, which was absorbed into Wells Fargo after the 2008 Financial Crisis. Wells Fargo then began charging unreasonable fees while Credit Cards here locally was attractive. That's why i closed that account abroad and used a Credit Card locally instead.

Now with this tax, i have to work out (ease of opening an account and fees) if it makes sense opening an account up the islands or in the states and use that institution's card for online purchases. If that proves to be cheaper, Imbert can't do nada.

[*$kїđž!™]

No facking plan....just run it to the ground

they have a plan
take care of certain people in the country.
the rest have to suffer
Does the prime minister need a million dollar car to drive around in
Do we need to do the work on the Toruba stadium

Do we need the red House refurbishment ?

No he doesn't need a million dollar car...
That's stadium is nonsense....what benefit would we see from this stadium...
Who care about the red house....aren't they comfortable where thy are right now ?.

Waste of money......

[ingalook]

[hong kong phooey]

Ah know I a retarded question and i could could listen to that idiot speech or read it in the papers.
But when does the 7% tax on Amazon shopping go into effect. And does this tax apply to items bought before the budget was read?
I have stuff coming in that was purchased before yesterday's budget.

It's not happening until September ... Your items are safe

Thanks man

[sMASH]

I've been seeing many pics on Facebook with that quote.
It is wrongly used.

We don't have a nation trying to get more prosperous, we just have government ministers using the easiest way to get more cash in their hands.

[drchaos]

I have a small question..has the super subsidiaries stop or meaning any more raise in super for the future...just asking

So the way this going to work is that the prices of super and premium are either equal to or above the international market price with the recent increase. This is the last major standard increase of fuels that we will see. The next step in the 2017 budget will be to start a system where the price will be pegged to the cost of oil, meaning total elimination of the subsides. As long as oil remains at around $40 dollars per barrel super and diesel should be around $3-4 while premium should be around $4. Once it starts going up then we will really feel the heat.

[drchaos]

In this budget PNM financiers well taken care of.

Citizens are now paying 7% more for US while PNM financiers have all the free access to US.

Plus ppl will buy their Rangers as it is now cheaper than a 2l.

RORO getting more squeeze for US. ANSA are the real owners of Trin.

I am puzzled as to how all of the above makes sense ...
How are Range rovers cheaper? They do not make hybrid vehicles which is the only type of vehicle to see a price drop. The prices will actually go up as the US dollar rises ...
The us dollar allocation system via the central bank is not set up the favour PNM financiers.
Everyone is getting the squeeze for US not just RORO people and may I add this has been happening under the PP. Also Ansa even though its a large conglomerate are not the owners of Trinidad.

Oh wait just realized im responding to a ZR post .. forget everything i just said ...

[S_2NR]

In this budget PNM financiers well taken care of.

Citizens are now paying 7% more for US while PNM financiers have all the free access to US.

Plus ppl will buy their Rangers as it is now cheaper than a 2l.

RORO getting more squeeze for US. ANSA are the real owners of Trin.

I am puzzled as to how all of the above makes sense ...
How are Range rovers cheaper? They do not make hybrid vehicles which is the only type of vehicle to see a price drop. The prices will actually go up as the US dollar rises ...
The us dollar allocation system via the central bank is not set up the favour PNM financiers.
Everyone is getting the squeeze for US not just RORO people and may I add this has been happening under the PP. Also Ansa even though its a large conglomerate are not the owners of Trinidad.

Oh wait just realized im responding to a ZR post .. forget everything i just said ...

I believe he is talking about ford Rangers not range rovers

[drchaos]

Ohhhhh sorry boy ZR i take it all back!

[urbandilema]

Wah we go do tax is wah the pnm best at...proven from long time...and if they dey gonna theif. .theif one time for the nex five years so in case dey don't get in power them covered..all my thoughts is the government doesn't have a plan and secondly y the pm flying out again [FACE WITH LOOK OF TRIUMPH]

[1UZFE]

Ohhhhh sorry boy ZR i take it all back!

Hahahaahhaha....
ZR prolly aint get no sleep since...

[Miktay]

Tabanca...

ZR want back dem UNC thieves