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The Tax package announced needs a lot of work. The Rich in society could have been made to pay so much more instead of increasing the tax burden on the poor which I think they did. It seems these guys don't think and look at what is happening around them....Scammers, druggist and others with ill gotten gains should be made to pay...Likewise the rich..Options for Philips
1) Go after Real Estate and tax heavier on luxury houses/apartments
2) Instead of a wide increase in Taxes on Licenses, etc, Focus on luxury items where you can double the current license fees
3) Improve tax compliance
4) Relook at income Tax and see if there is potential for higher earners to pay more
5) Increase court fees, fines etc. The Justice system should help pay for itself. Those $100 fines and the likes are useless..Court fines should be a minimum 5-10 thousand dollars..If you do the crime, pay the fine
6) Not sure how much money is made by the government on remittances but the likese of Western union shouldn’t be making all the money on fees here
Taxes I think should be reduced or removed:
1) GCT on basic food items should be either reduced to a low flat amount across all items (5-10%) or should be excluded from Food items such as patty that they are adding
2) GCT on electricity for small business is definitely to high. Roll back to 10%
3) Hotel sector taxes should stay in place..they make so much money and hardly pay labor anything
I don’t have the full list but I think these are items I would recommend be looked at. I heard Philips asking for people to come up with suggestions but I’m wondering who is coming up with suggestions for the poor. The Private sector, Hotel Industry, Taxi groups, etc all have their own agendas and are looking for their best interest….Who talks for the poor and is proposing alternatives…This is where Shaw can add a lot of value
1) Go after Real Estate and tax heavier on luxury houses/apartments
2) Instead of a wide increase in Taxes on Licenses, etc, Focus on luxury items where you can double the current license fees
3) Improve tax compliance
4) Relook at income Tax and see if there is potential for higher earners to pay more
5) Increase court fees, fines etc. The Justice system should help pay for itself. Those $100 fines and the likes are useless..Court fines should be a minimum 5-10 thousand dollars..If you do the crime, pay the fine
6) Not sure how much money is made by the government on remittances but the likese of Western union shouldn’t be making all the money on fees here
Taxes I think should be reduced or removed:
1) GCT on basic food items should be either reduced to a low flat amount across all items (5-10%) or should be excluded from Food items such as patty that they are adding
2) GCT on electricity for small business is definitely to high. Roll back to 10%
3) Hotel sector taxes should stay in place..they make so much money and hardly pay labor anything
I don’t have the full list but I think these are items I would recommend be looked at. I heard Philips asking for people to come up with suggestions but I’m wondering who is coming up with suggestions for the poor. The Private sector, Hotel Industry, Taxi groups, etc all have their own agendas and are looking for their best interest….Who talks for the poor and is proposing alternatives…This is where Shaw can add a lot of value