Budget 2016/2017

[desifemlove]

lol @ beating the system.

do you alert the courier company and customs when they under value your items? this is 99% the reason most ppl import stuff

I've never had that issue with IBC with that, and yes, I do check. For the people "getting away" with certain things, I would consider that part of the inefficiencies I mentioned earlier.
You sure is 99% right?
How about those that order stuff online not just because of legitimate price savings, but because of the power of choice, or because of convenience with their work schedule, or those who don't want to deal traffic, or more importantly, with anyone's lack of training, or home problems that they bring to work. Might be a hell of a 1% there eh?
This is more of a nuisance to legitimate online consumers.

i must agree with the convenience aspect, but for a long time, local couriers/customs undervalued stuff coming in. I am not disputing the choice/variety aspect either. and (insert back pedal meme here) 99% is an exaggeration

what i guess i was saying badly, is that if you are buying a 55" tv for 500 USD online vs the same one that cost 1500 USD locally, paying 7% in TTD is nothing, and a fair nod to the govt.. besides that, there are allot of items (or the substitute) can be purchase locally. what the govt is "trying" to do is get ppl to purchase more things locally. (give up designer clothes and luxury items and/or cheaper brands/products only found online) and buy the locally sold counterparts and support the local economy, or import ya stuff, but pay a little to the gov..

I personally could have gotten local tuner shops to buy/order all the parts for my project cars, and (if we all did) it would have probably helped create employment etc and build them into bigger businesses, but I choose to import everything myself. and I guess they are just trying to make us rethink things like this... buying turbo hoses and clamps online vs just paying the $20-50 TT more per hose and $25 TT more per clamp locally (and get them immediately)..

you cannot escpape the online tax. businesses buy online too, it b2b as much as b2c.

look at it this way, bmobile/digi only have a limited range of phones to buy. if i want a decent samsung, bar the s7, or something mid-range, i don't want no Blu or minor Android knock off. I get it from overseas. and who is rowley to say i cannot buy/wear designer clothing? what fibres does trinidad have to make clothes anyhow, we doh grow no silk, or even manufacture polyester or grow cotton lol.. i personally don't care about the online tax...i understand why PNM doing it, and no way i settling for the shitty product ranges that local firms does have.

[desifemlove]

unfortunately, some of you really can't understand the point of all of this and are still trying to cheat the system and think you are entitled to all these luxury items you import instead of buying locally and supporting local businesses and employment..

this all just flies over your heads..

and of course some business will raise prices as a knee jerk reaction, but smart business will cease the opportunity to under price competition and sell volume instead of aggressive markup

but this too will prob fly over your heads ...

If local business cannot compete with a foreign business selling the exact same item at retail price, plus shipping costs, plus skybox shipping costs, plus duty and VAT costs, then the local business is doing something very wrong. Why don't the smart local business seize the opportunity to under price the disadvantaged foreign competition that has all these extra costs? Local business need to step up their game with a free market system instead of protectionism.

not that simple! lolol...it's unnuanced thinking like this that partly makes this country screwed up. people don't like shitty local customer service. or need things only available from overseas. or think the product range here is sheit, or some things people does NEED aren't made here.

this includes meds, clothing, foodstuff, whole range of stuff. there's only so much a small tropical island range can make or grow. and what to you is a luxury item? is buying a mid-range HTC phone from overseas "luxury", since one needs it for his business and bmobile/digi have shitty knockoffs? why "buy local" when local is largely a shitshow? this is why people buy online a lot.

[88sins]

So I take it most ppl here dissatisfied with the budget. Like allyuh expected sumn different.

Ah go say it again. No politician or political party gives a rat's furry arse about anybody outside their own affiliation. So Joe Public gonna keep getting his nutz squeezed with vice grips &his belt tightened till he either ends up a eunuch or gets cut in half.

They could charge a 30% import tax if they want, still costs less than buying the garbage their financiers selling locally, & that is the blunt truth.
Wanted to get a specific replacement item days ago. Called a local dealer & was quoted a price of TT$3200+VAT
Went online & bought the exact same item from a US retailer other day. Paid USD$115.00. Add the 30% duty, 18%VAT, &the 7% online purchase tax &it will still only costs me just over TT$1300.00 landed at my door.

Buy local my ass, when the local con artists could compete with the price and quality of goods sold by US retailers, its only then alone they might get my business.

Till then all a dem could piss off, clong impsbert & pals included

[desifemlove]

So I take it most ppl here dissatisfied with the budget. Like allyuh expected sumn different.

Ah go say it again. No politician or political party gives a rat's furry arse about anybody outside their own affiliation. So Joe Public gonna keep getting his nutz squeezed with vice grips &his belt tightened till he either ends up a eunuch or gets cut in half.

They could charge a 30% import tax if they want, still costs less than buying the garbage their financiers selling locally, & that is the blunt truth.
Wanted to get a specific replacement item days ago. Called a local dealer & was quoted a price of TT$3200+VAT
Went online & bought the exact same item from a US retailer other day. Paid USD$115.00. Add the 30% duty, 18%VAT, &the 7% online purchase tax &it will still only costs me just over TT$1300.00 landed at my door.

Buy local my ass, when the local con artists could compete with the price and quality of goods sold by US retailers, its only then alone they might get my business.

Till then all a dem could piss off, clong impsbert & pals included

this. f@ck local.

[EFFECTIC DESIGNS]

So I take it most ppl here dissatisfied with the budget. Like allyuh expected sumn different.

Ah go say it again. No politician or political party gives a rat's furry arse about anybody outside their own affiliation. So Joe Public gonna keep getting his nutz squeezed with vice grips &his belt tightened till he either ends up a eunuch or gets cut in half.

They could charge a 30% import tax if they want, still costs less than buying the garbage their financiers selling locally, & that is the blunt truth.
Wanted to get a specific replacement item days ago. Called a local dealer & was quoted a price of TT$3200+VAT
Went online & bought the exact same item from a US retailer other day. Paid USD$115.00. Add the 30% duty, 18%VAT, &the 7% online purchase tax &it will still only costs me just over TT$1300.00 landed at my door.

Buy local my ass, when the local con artists could compete with the price and quality of goods sold by US retailers, its only then alone they might get my business.

Till then all a dem could piss off, clong impsbert & pals included

Well said
having experienced Amazon customer service I never again bought from the local Trini con man. If Imbert feel I will settle to buying 3rd world trash from his financiers to assist in financing his next election campaign he better think again.

[bluesclues]

Like i said. 7% tax on online purchases was a bad idea. Instead of facilitating local retailers to be competitive with online pricing they come with protectionist policy. It is undemocratic. And looks like it's breeding a war of rebellion against local retailers now.


I buy local stuff that is within $50ttd of the online price. Local car parts dealers selling stuff at amazon prices so i dont import those. Why isnt it the same for electronics and sneakers and clothes? and for that reason, none of my electronics or clothes i currently own were bought locally. And i really cant understand why their prices are so high. Considering local retailers should have wholesale and distributor sources in foreign meaning they are paying up to 30% less than the stated amazon price. Yet when they import, and undervalue their invoices untop of it, they still unable to reasonably price the items?

Why must we pay 1200ttd landed, for something that cost 600ttd online? And in keeping with that, i am limiting my imports to when family coming down with suitcase as much as possible. For years i havent bothered with that because of the service websource provides. But now, about 50% of my annual online purchases, if not more, will come in suitcase. No shipping, no duty, no vat, but most importantly, no 7% tax and no price gouging.

Just like the pnm wanted. Now is time to force retailers to closedown because they not gettint any sale. All them overpriced half dry-rotted goods in the mall.. we dont care bout ur rent situation. Get ur prices down or close up shop. Find a way. But it will not be by passing on additional expense unto me the consumer. Cheese sticks is $4.. i am nt paying $5 or even $4.50. And if i find it online for $2 i will buy it there.

[shake d livin wake d dead]

They would never live up to that electricity rebate promise....they will find a way to ensure you are charged 301$

they just giving the rebate so you could put it aside for the property tax

[EFFECTIC DESIGNS]

^ And nobody light bill here does be $299 either.....

Even if I scale back drastically my bill does still be more than $500 and thats with just 1 AC and florescent bulbs so I really don't see how anybody matching $299

[goalpost]

ED
Shut your fcuking mouth. I reading this ched. You continue to have the longest posts. Up to now you haven't posted anything meaningful. Plus this thinly veiled bait you throwing about PNM and UNC.
U r really the 2nr jackarse...

Good budget btw

[shake d livin wake d dead]

With respects to the property tax...where squatters fitting in?

[boxy]

Lol reading some of these comments does give me migraines yes.
Carmona doesnt drink all that alcohol as head of state he entertains other heads of state. What u want them to be served? Fruta?
The big beat up about local business not matching online prices allyuh feel these people selling from a basement? What about the overhead costs electricity water staff do you know that their utility bills are higher because it is a commercial premises even apartment buildings landlord pay commercial rates which is significantly hight than residential. Some of allyuh need to read up as unfortunately these days most people get their news from facebook or the political party groups on fb.
If u could afford a Galaxy S8 Edge u can afford to pay the 7% tax we made no beat up when the US states forced amazon to start charging taxes why was this done to help keep said states afloat.
Is it that hard to believe that The opposition would have made the same budget due to the oil revenue being 2B as opposed to 14B the fiscal year before? the property tax was already drafted by them before leaving office it was coming regardless don't fool yourself.

[88sins]

Local car parts dealers selling stuff at amazon prices so i dont import those.

u really feel so? Well I go tell u sumn, thats only with small consumable parts, parts that not expected to last years. look at this example.
A brand new OEM a/c compressor for a ck lancer sells for TT$4200.00 at the cheapest local source. At the dealership, it sells for almost TT$7000.00, while the cheapest workable substitute elsewhere sells for TT$2800.
I found the original OEM compressor on Amazon, selling for USD$127.76. Purchase price works out to TT$861.29, after adding 30%duty, 18% vat & 7% tax, it comes to TT$1413.71,then add in TT$350.00 in skybox fees that brings it to a grand total cost of $1763.71, landed to your doorstep.

So it cheaper, & less stressful (no callin/runnin around d bamboo looking for d best value or to see who have it)

I have a serious issue with the way customs applies these charges tho. VAT is 12.5%, but still you pay 18% on imports. Why the difference in the rate? Nobody can explain that, & believe me, I've asked more than a few ppl the reason for this. & that 18% is charged to the cost of the purchase AFTER 30% duty is added to the purchase price in USD, & customs utilizes a forex rate that's higher than the daily rate, sumn like USD$1.00:TT$6.82 iirc. So basically, these S.O.B.'s taxin a tax. Now they going to tax a tax, then tax it again 7%, then jack up the rate of conversion.


& after all that it STILL costs less than to buy local. Local businesses need to step up their game to be able to compete with the global market. Thats all, it real simple. Just don't buy goods for $0.50 cents & try to sell it here for $500.00, especially when ppl can easily find a source where they can get it for $1.00.

[fokhan_96]

Lol reading some of these comments does give me migraines yes.
Carmona doesnt drink all that alcohol as head of state he entertains other heads of state. What u want them to be served? Fruta?
The big beat up about local business not matching online prices allyuh feel these people selling from a basement? What about the overhead costs electricity water staff do you know that their utility bills are higher because it is a commercial premises even apartment buildings landlord pay commercial rates which is significantly hight than residential. Some of allyuh need to read up as unfortunately these days most people get their news from facebook or the political party groups on fb.
If u could afford a Galaxy S8 Edge u can afford to pay the 7% tax we made no beat up when the US states forced amazon to start charging taxes why was this done to help keep said states afloat.
Is it that hard to believe that The opposition would have made the same budget due to the oil revenue being 2B as opposed to 14B the fiscal year before? the property tax was already drafted by them before leaving office it was coming regardless don't fool yourself.

What wrong with juice BTW? Serious question.

[sMASH]

^^ yes, serve fruta.


Out of all the summary points Duane posted, only property tasks have contention with.

U already paid ur income tax, u already paid vat for u materials and labor, u shouldn't have to be taxed every year on stuff u were already taxed twice for.


Tax the land, by designation and surface area. U want to tax people for trying to live comfortably without consideration as to how hard they have worked for reach there.

[Dizzy28]

relax.....u guys voted for this.....

Not me padner, but I know people who voted PNM with a straight face.

At this point it seems as if the Cabal UNC was a better fit even if they was thiefing by the billions. Atleast life was good?

I have a padner from Chaguanas who just applied for refugee status in Germany before Imbert could even finish reading the budget. No idea how that will turn out.

The Germans probably had an almighty laugh when they saw that application.

^ who electric bill does even be $299?

Ent they does charge nearly $100 on each bill just to rent the meter? to have a meter live?

[pete]

Tbh my only concerns regarding the property tax is how many locations they will have for people to register and get their invoices to pay. Or if the process will be transparent. Should be able to see what your neighbor paying to know if your property was incorrectly validated etc

[sMASH]

So tell me.. ur neighbor has a single bathroom two bed room. U have a 5 bedroom 3 bathroom, whole front paved for vehicles and tiled,,, place posh.
Both on 5000 square feet of land, u really think u should pay more than ur neighbor?

[mark2.0]

Trinidad is not paradise anymore!

[nervewrecker]

Fly over bar in Palo seco ram out last night. People seem to be pleased with the budget.

[sMASH]

Old stocks, rum tax ain't kick in yet

[Daran]

Just want to add that all these extra taxes are going to further stagnate our economy.

Let's assume the skybox tax was intended to promote local spending, then that'd be a good thing. However, in reality as most of you have pointed out, we don't have a choice but to shop online. We either pay through our teeth, settle for inferior goods or are severely limited by choice.

Therefore the only benefit is increased revenue to the government. But is government the best spender of our money? No, and in fact it would have been far better to encourage the population to save, or even lower taxes to promote spending.

Again, raising diesel will have the same effect. We are decreasing the populations' purchasing power with several new taxes. This virtually eliminates saving and reduces spending, the exact opposite of what you want in a good economy.

It would have been far better to take this opportunity to cut back on government inefficiency via privitisation, while attempting to maintain purchasing power for us.

Taxing your way out of a recession has never worked effectively and only seeks to prolong it.

Remember folks in a recession you're supposed to have a fall in inflation, not an increase.

[drchaos]

This new increased income tax regime is easy to circumvent .... If you own a business.

Dividends don't get taxed ... let your salary be 83K a month and pay yourself the rest in dividends. Problem solved.

[lostboys crew]

Yes man Sin that's the truth been observing that for years. Nike sneakers in the states cost 300 US down here you paying 600 US :/ I thought when u buying bulk you get stuff cheaper. I guess local franchises just like to dig out consumers eyes.

[Daran]

Going for a drive get expensive. Can't enjoy nature without fear of being robbed in a secluded area. .

Alot of people will overlook this.... If some only knew how this affect family and relationship life on a real...

There is little to no sense of relaxation and comfort anymore, no spontaneous decisions to venture on a drive because now it have to get planned and money put aside..

I not old to know how it use to be, but i sure as hell know in the last couple years it really gone to sheit.. Can't even use a $200 to full gas and buy a lil goods for maracas anymore

The economy went to sheit under Manning's administration. Do you remember the rapid double digit inflation we experienced for several years?

My step brother told showed me an interesting calculation where his purchasing power was virtually the same in 2002, making $13k/mo compared to him making 30k/mo today due to inflation.

And that doesn't yet take into account all these new taxes. I'd imagine by next year a 30k/mo salary would be equivalent to a 2001 10k/mo salary. Weren't school principals making more than 10k in 2001? I believe they're making just 20k/mo today.

[aidan]

Going for a drive get expensive. Can't enjoy nature without fear of being robbed in a secluded area. .

Alot of people will overlook this.... If some only knew how this affect family and relationship life on a real...

There is little to no sense of relaxation and comfort anymore, no spontaneous decisions to venture on a drive because now it have to get planned and money put aside..

I not old to know how it use to be, but i sure as hell know in the last couple years it really gone to sheit.. Can't even use a $200 to full gas and buy a lil goods for maracas anymore

x2

[cherrypopper]

Allyuh vote for dat.......

..... runs

[INDAVID WORKSHOP]

http://www.customs.gov.tt/importing/rates-of-exchange

This site gives the Customs rate of exchange for billing purposes, bank rates of exchange are difference to this rate for imports / exports.

[hydroep]

Just like the pnm wanted. Now is time to force retailers to closedown because they not gettint any sale. All them overpriced half dry-rotted goods in the mall.. we dont care bout ur rent situation. Get ur prices down or close up shop. Find a way. But it will not be by passing on additional expense unto me the consumer. Cheese sticks is $4.. i am nt paying $5 or even $4.50. And if i find it online for $2 i will buy it there.

Like i said. 7% tax on online purchases was a bad idea. Instead of facilitating local retailers to be competitive with online pricing they come with protectionist policy.

By singling out those who procure online purchases primarily through courier companies i.e. households and small businesses, it certainly looks that way.

It seems all the more unfair from the conserving foreign exchange angle when there were no direct measures taken against another "class" of entities (such as those identified by the previous Central Bank Governor) that allegedly consume the lion's share of that resource.

[mero]

ED
Shut your fcuking mouth. I reading this ched. You continue to have the longest posts. Up to now you haven't posted anything meaningful. Plus this thinly veiled bait you throwing about PNM and UNC.
U r really the 2nr jackarse...

Good budget btw

Real

[cherrypopper]

Coming from a previous smoker I find that cigarettes should be taxed more. .

A pack of cigarettes should be at least 50 bucks