http://www.bahamas.gov.bs/bahamasweb2/home.nsf/vContentW/1D63F9837965473E06256ED10080176C

FNM budget already online.

http://www.bahamas.gov.bs/bahamasweb2/home.nsf/vContentW/1D63F9837965473E06256ED10080176C
FNM budget already online.

where? Do you have a link to the exact document?

my bad got it

Here is a better link http://www.bahamas.gov.bs/bahamasweb2/home.nsf/vContentW/1d63f9837965473e06256ed10080176c!OpenDocument&ExpandSection=1#_Section1

where? Do you have a link to the exact document?

http://www.freenationalmovement.org/news.php?cmd=view&id=389

...reading.....


~~

Betcha the police force, Hospital authority and a good chunk of education's monies end up moving out as salary increases.


Da unions leaders are salivating at dis one.

Betcha the police force, Hospital authority and a good chunk of education's monies end up moving out as salary increases.


Da unions leaders are salivating at dis one.

Well finally COB gets a sizable increase.

Also, Im no economist but...this has to mean the economy is doing well if they aren't planning on increasing taxes yet expect total government revenue to increase that much. Stamp taxes alone are expected to increase by 109,343,000.

Last revenue figures 1,581,984,783
Expected revenue totals 1,689,806,963

Which is an increase in 7%.

The increase in recurrent revenue arises principally from stamp tax which has shown remarkable growth in recent years due to a combination of robust property sales and increased emphasis on revenue administration. Stamp tax as a proportion of total revenues is projected at 27%, just behind customs duties at 41%.
Shouldnt some kudos goes to the previous admin, cuz also i believe they introduced the practice of better revenue handling in their later years.

Well finally COB gets a sizable increase.
Also, Im no economist but...this has to mean the economy is doing well if they aren't planning on increasing taxes yet expect total government revenue to increase that much. Stamp taxes alone are expected to increase by 109,343,000.
Last revenue figures 1,581,984,783
Expected revenue totals 1,689,806,963
Which is an increase in 7%.
Shouldnt some kudos goes to the previous admin, cuz also i believe they introduced the practice of better revenue handling in their later years.


one could look at it that way. and if it's so.....i say, great.

however, the first thing that popped into my head.....if it's gonna cost less to bring in/buy/do business here....the more Bahamians are going to do it.

b/c the cost is going down.....folks just may be tempted to purchase twice as much as they would have normally.

Well finally COB gets a sizable increase.
Also, Im no economist but...this has to mean the economy is doing well if they aren't planning on increasing taxes yet expect total government revenue to increase that much. Stamp taxes alone are expected to increase by 109,343,000.
Last revenue figures 1,581,984,783
Expected revenue totals 1,689,806,963
Which is an increase in 7%.
Shouldnt some kudos goes to the previous admin, cuz also i believe they introduced the practice of better revenue handling in their later years.

i think it's a good budget from what i read it covers much of what they promised. i'm happy about the education part most and the crime. they have also tried to alleviate some of the high prices of some items. i'm pleased that the bulk of the expenditure will go to the airports and houses.

one could look at it that way. and if it's so.....i say, great.
however, the first thing that popped into my head.....if it's gonna cost less to bring in/buy/do business here....the more Bahamians are going to do it.
b/c the cost is going down.....folks just may be tempted to purchase twice as much as they would have normally.

So you are saying that they are decreasing certain taxes to increase consumption, to make the money back.

But my post did mention the line where he said : The increase in recurrent revenue arises principally from stamp tax which has shown remarkable growth in recent years due to a combination of robust property sales and increased emphasis on revenue administration. Stamp tax as a proportion of total revenues is projected at 27%, just behind customs duties at 41%

Which I gathered as "its has been growing and we expect it to continue to grow"

So you are saying that they are decreasing certain taxes to increase consumption, to make the money back.

But my post did mention the line where he said :

Which I gathered as "its has been growing and we expect it to continue to grow"


okay fine.....u caught me. didn't bother to read your whole post. lol. but i guess. *shrug*

$107M increase in expenditures, seems rather large to me - would love clarification on where the extra revenues are coming from

$107M increase in expenditures, seems rather large to me - would love clarification on where the extra revenues are coming from


I dont know if u already read but here is what the govt projects
Recurrent revenue is projected at $1,490 million, representing an increase of 9.9% over the projected outturn for 2006/2007 and an increase of 10.6% over the original estimate for this year. This projected increase arises from revenue buoyancy and continued focus on revenue collection.

The increase in recurrent revenue arises principally from stamp tax which has shown remarkable growth in recent years due to a combination of robust property sales and increased emphasis on revenue administration. Stamp tax as a proportion of total revenues is projected at 27%, just behind customs duties at 41%.

Real Property Tax contribution to revenue is projected to increase by 21%. Other contributions to revenue, including customs duties, are projected for only modest increases.

Also check this out
SUMMARY OF REVENUE 2007/2008 (http://www.bahamas.gov.bs/bahamasweb2/home.nsf/vContentW/GOV--About+the+Government--2007-2008+budget+PDFS/$FILE/2007-RevenueForecasts-Summary-20070529-205726.pdf)

Customs is only projected to grow by 20sum million, while revenue from stamp taxes are projected to increase by over 100 million..

Customs is only projected to grow by 20sum million, while revenue from stamp taxes are projected to increase by over 100 million..


They plan to merge several customs duties into stricktly stamp tax.

They plan to merge several customs duties into stricktly stamp tax.

This crossed my mind but I forgot about it when he said :

As regards amalgamating Customs Duties and Stamp Tax on imports, the Ministry of Finance and the Customs Department have been directed to study the administrative and other arrangements which need to be put in place to accomplish this in time for the 2008/09 Budget.

So are they going to merge em for 07/08 or 08/09?

Well if you were to go ahead and re-negotiate the current bunch of HOA's for anchor projects which are currently totally tax free and tell them the have to ante up 11/2% that would certainly increase the revenue and would be the reason for the duty/ stamp tax disparity. Not really a bad idea these people with these developements can afford to pay this small amount.
Also with all the talks about investors being upset with HI looking at contracts it would send a message, " hey your still welcome but it is not going to be a totally free ride. "