WHEN the Bahamas put together a new tax system to replace customs duties, which would you prefer?

VAT or income tax?

income would be the fairest.

None of the above, and most certainly not income tax. Could you see it. Sir how much did you make this year? Citizen X- NOTHING!

Income Tax would not work as a majority of employers pay in cash. Others pay in check and pretend to take out NIB which most do not. You find out when you go to NIB and do an inquire.

I am supposed to file with the IRS yearly, and have never gotten any form from an employer as to how much I was paid for the prior year to send with my so called filing.

Very easy to say ...duh, I made zero last year, just fished and picked fruits to live, go ahead and prove me wrong......

Just like NIB currently, Income tax would work similar. There's some big fines if employers dont pay NIB, same would go for Income tax. Also there actually people from NIB going around checking up with businesses.

Unfortunately VAT will not be easier to collect than Income tax, ok people have to pay it at the store, well imagine the huge prices we will then pay, imagine which business owners will say wait a minute .. i keeping least 50% of that!

But Income Tax will be better than Customs tax either way, more fair.

You forgot to put NONE.

I listened to the talk shows today, and Mrs. Saunders, a very intelligent woman from the COB, was on discussing the options of taxes, etc....

She is a very bright woman, and even though she is a proponent, she understand that there are a few things that we must consider, before we decide to implement income tax and all other taxes.

Income tax is not worth it to me. VAT tax and tax on transactions, seems to be the same thing as customs duty, with no real value for the customer. People would just consume less, or, we would simply have more imports from the U.S., and, local shop owners would REALLY hurt.

We don't want either.

Could you imagine the Tax collector trying to collect from goods sold at the Haitian stands on Cowpen Road and other stands (Bahamians on East Street selling crabs)...Good Luck

Could you imagine the Tax collector trying to collect from goods sold at the Haitian stands on Cowpen Road and other stands (Bahamians on East Street selling crabs)...Good Luck

Yeah they probably best just leaving it as is for now ... they got alot of other issues to fix anyway ..