Tax collection problematic
Posted on Thu, 07/26/2012 - 17:32 in Politics
(CNS): Collection of the premier's proposed tax on expatriate worker permit holders will be difficult and costly to collect, according to local experts as well as members of the opposition. With no culture of direct taxation, few employers, especially small businesses, have systems in place that will allow government to easily collect this 10% cut of workers' pay. Local finance experts are already issuing warnings to government that lawful tax avoidance system will be in place almost as quickly as government can come up with a system to collect the money it hopes will plug its budget gap.
Moreover, opposition politicians are warning that the cost of collection and enforcement will outweigh the hoped for cash that the tax proposes to raise.
With a significant number of tax experts on island, as well as international companies with offices in other tax free jurisdictions, experts already say that employees in the offshore sector, which offers the greatest pool of high paid work-permit holders and potential revenue to government coffers, will move quickly to adapt to any system government puts in place to avoid paying the tax.
Government will be stretched and need to employ a new army of civil servants to analyse and assess the people who should be paying, how the tax should be collected and how it can enforce payment.
Speaking in the wake of the news that Premier McKeeva Bush intends to introduce a direct taxation on the earnings of work-permit holders, which he called a "community enhancement fee", the opposition leader warned that employers will become very creative about how they pay their staff.
“Government will need to be very careful depending on significant revenue from this form of income tax,” Alden McLaughlin said. “Employees may become very creative about how they pay people and are likely to start paying them in other countries where possible. We don't have a culture of income tax so most employers won't have any systems in place to deal with this. Government will need to create a whole new system and hire more civil servants to collect this tax.”
These concerns were also raised by the independent member for North Side, Ezzard Miller, who said that he did not believe government had done any analysis over the “totally ill-conceived policy” or given any consideration to how this tax would be applied and collected and how it would enforce compliance. With no existing agency, government would have a major task ahead of it to do a full screening of who should be paying and how much, which would be a costly exercise. “We will need to spend a million to collect this,” Miller added.
In addition, government has a poor track record of collecting taxes outside of the offshore sector where there is not an agency responsible for enforcement, such as with work permit taxes.
Government abandoned school fees and garbage fees in recent years because of its inability to collect the cash. Making employers compliant when it comes to the law on health insurance and pensions had been beyond the grasp of successive governments, and the HSA continues to lament the failure of people to pay their hospital bills.
Despite announcing his intention to impose this new 10% tax on foreign workers who are earning more than $20,000 per year, Bush has given no indication as to how this tax would be assessed or collected, by which government agency and how government would enforce compliance.
The premier said the new tax was the lesser of several evils when it comes to taxation, which he said the UK were forcing him to introduce regardless of his efforts to cut expenditure.
However, a statement released by the governor’s office on Thursday afternoon suggested that the budget in which this tax proposal is supposedly contained is far from a fait accompli as the UK’s economic expert who is advising the Cayman government on the budget is not yet in receipt of the government's latest financial plan.
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Any form of tax that takes
Any form of tax that takes more civil service expediture to collect and audit makes no sense. No new form of tax should be considered until all attempts to reduce expenditure have been exhausted.
So what let the news show up
So what let the news show up that Government is finally helping its own people and putting expats in their place!
good job premier,
GOOD JOB UK!!!!!
Taxes on expats. The thin end
Taxes on expats. The thin end of the wedge. Caymanians will be next (probably paper Caymanians first) but the rest will follow. Then taxes brought in on investments and companies.
Soon come, the men will be back to sea and the women back to making rope.
Shirtsleeves to shirtsleeves in three generations.
Well done.
WHere are the civil service
WHere are the civil service voices on this matter?
Esp the Pension Office - Mario - are you leaving us already, after having to give up your 'Premier' car plates for a govt job?
Read between the lines. No
Read between the lines.
No pension for expats means no future for expats.
MacCheese will give expats a 10 year term limit with the possibility
of applying for residency...............and just reject everyone who applies.
He is basically saying you do not need a pension in Cayman because
you will not be retiring in Cayman.
XXXXXX
Alden?! Complaining about
Alden?! Complaining about the cost of taxation?! He should have thought about that when he and Kurt blew more than 81 million dollars and more on schools and roads. These men say one thing and then turn and say the opposite, because they know they can get everyone on their side. I don't trust Alden. Maybe Ezzard, but not some party figure that help got us into this mess.
Better to blow funds on
Better to blow funds on schools and roads rather than Nation Building vote buying, hurricane Hilton, paving private parking lots, flying first class, staying at the Mandarin Oriental, lawsuit settlements for breaking agreements, Cohen deal ..........................
TO THOSE OPPOSING THE TAX:
TO THOSE OPPOSING THE TAX: BERMUDA HAS 14% ON PAYROLL TAX AND THEY ARE THRIVING :o) I BET if it was us being taxed you honestly believe these expats here would be carrying on like how they are??????? HELLO!
Don't compare Bermuda to
Don't compare Bermuda to Cayman, it is a comparison between night and day.. Bermuda is light years ahead of Cayman, while Cayman is still stumbling in the dark.
In their
In their self-important little minds. The funny thing is your newspapers are always comparing Bermuda with Cayman while we in Cayman largely ignore Bermuda.
They are ahead because they
They are ahead because they taxed expats!
Bermuda is not thriving.
Bermuda is not thriving.
Rubbish. Bermuda has been
Rubbish. Bermuda has been suffering. Looking at the Bermuda Gazette comments on the proposed new tax I thought that this comment was particularly insightful. There is more than one competitor:
Payroll taxes in Bermuda and Cayman will give the US domiciles more positive advantages to be discussed at the big Vermont Captive Insurance Association meeting. Domiciles of Tenn Montana Hawaii Connecticut Colorado NJ Florida Kentucky Washington DC New York Vermont Arizona Nevada will certainly pick on these issues as captive insurance companies continue to grow in number with insurance costs rising.
Andy Barile CPCU MBA
www.abarileconsult.com
CNS: "The premier said the
CNS: "The premier said the new tax was the lesser of several evils when it comes to taxation, which he said the UK were forcing him to introduce regardless of his efforts to cut expenditure." Well I would think that if every time you come to them with a budget showing cuts to expenditures like how Ezzard is recommends, and they refuse it, that to me would be pressuring. It is almost like the Premier is fed up with them. The relationship between him and the UK has grown sour since from last year. I read Ezzards letter and I agree when he says that McKeeva should be replaced by Roulston, because I personally think he doesnt have the patience enough to deal with our finances. It is alot of work too. On the other hand, I notice the silence from the Governor and FCO Minister. They do appear lamblike, but don't let that fool. They are the real masterminds behind what is happening now.
I call bull$hit! Political
I call bull$hit! Political grandstanding at it's finest!
14.52% tax not 10%
14.52% tax not 10% tax!!!!!!!!!!!!!!!!!!!!!!!
If you do the math, you'll find this is actually a 14.52% tax. Under the current proposal, the employer is no longer required to pay the 5% pension contribution. At their choice, the employer can direct that 5% to the employees tax bill. The employee will pay the balance of the tax bill which is actually 9.52%. In total, 14.52% of the employee's salary is sent to the governement.
At the end of the day the employee will no longer have the 5% pension contribution in the bank and will have paid 9.52% of his salary to the governement. I read this in the Royal Gazette last night. Saying this is a 10% tax is wrong.
http://www.royalgazette.com/article/20120727/BUSINESS02/707279977
At this price, I'd be far better off moving back to Canada. I prepared my Canadian tax return and using dedutions avaialble to all Canadians, my tax rate in British Columbia is 21%. However, if you offset this agianst the 14.52% the differntial tax rate is 6.48%. This 6.48% premium is quickly reduced and surpassed when you adjust for my CUC bill not to mention all the other cost of living difference between here and Canada.
So vey sorry to see you go
So vey sorry to see you go back to Canada but with all your deductions any low tax rate in BC you will do just fine. By the way I saw it on the news where Canada is now richer than the USA so maybe more Caymanians should migrate to Canada, they have excellent free health care there and it a wonderful place to live.
The exodus of persons &
The exodus of persons & capital from the Bahamas 30 years ago started with a single speech by the then-Prime Minister - that was all it took. Ask any Bahamian how badly their economy was affected for at least the next 20 years - their one saving grace was that their currency was at par to the US dollar and they managed to keep it that way with strict exchange control laws. Hey, all you Miami-shopping lovers, what are you going to do when you can't buy US dollars with you CI dollars to pay your credit card bills?
In Jamaica, the same anti-foreigner and socialist fromula of Prime Minister Michael Manley caused their currency to collapse from J$1 = US$1.20 (same as the CI$) to the current J$1 - US$0.011 - yes, that is correct one Jamaican dollar is worth about one US cent.
So all you bone-headed & selfish employees of the Cayman Government who refuse to take less pay now and the hell with the economy, what are you going to do when your CI$50,000 -$100,000 salary is no longer worth US$60,000 - $120,000 but US$500 - $1000? You think it can't happen? It most certainly can and in any country that suffers drastic devaluation it is the Government workers whose salary remains at the same amount in local currency year after year thereafter.
The Government doesn't have an income problem, it has an expenditure problem. Keep alienating the productive sector of the economy and pretty soon you will have an income & expenditure problem.
I am disgusted, discouraged and disheartened.
Yes Bahamas may have suffered
Yes Bahamas may have suffered but today we Bahamians are in fully control of our $#!%.One saving grace, give it rest mann. People like you clearly attach too much importance to yourselves.
I am not a Caymanian, but I
I am not a Caymanian, but I just came back from the Bahamas on a visit, for the firsttime visiting Nassau, and trust me I was not happy with what I saw, I expected more. The only thang Bahabas have that is outstanding and that is the Big Gambling Casino. There is no compasisson with Cayman, we are far pretier, nicer people, cleaner and much more advanced. Some of those complaining can go there if they like.
Read history, know abou what
Read history, know abou what you are trying to write/speak about. What happened in Bahamas is a mirror of what is happening here in Cayman today. Fortunately for the Bahamas they had an educated leader that was not afraid to go against the status quo for the benefit of his country and people. It would do you good to read the vision of Sir Lynden Pindling edited by Patricia Beardsley Roker and you will see what is now happening in Cayman is nothing new to the Bahamas. I pray that the outcome will be different. The Bahams playbook is being used against Caymanians by some of the very people that fleed from the Bahamas here. Bahamas is indeed lucky to have had a leader like Sir Lynden Pindling when they did; fortunately for Bahamas they had an educated strong leader who had a vision of more than 10 years for his people. A man that walked with Kings and Queens, noble men and women the world over but remained true to himself he would not forget his roots and people or from whence he came. Bahamas is an independent country and most Bahamaians still live in Bahamas and all things considered Bahamas is still a wonderful place they still have a thriving financial industry and many expats still live and work there, can't be all that bad. Now sweet Jamaica is entirely different they sucked the sour seed of corruption, division and political tribalism that set their teeth on edge for another 300 years that is when their redemption will come. Thank God that Cayman is small and when the day comes when it won't be "I am Caymanian" rather "who ya sa ya Mama is?" that's when we will know who's Caymanian or not. You don't worry Caymanians are no longer willing to throw themselves under the bus to save others. We are all going to sing near my God to thee nearer to thee from the bow of our ship Cayman and when all others run we will go down with the good ship Cayman but this is one time that we will not throw our Captain and people overboard to save others. Not this time no way Jose.
According to BBC World News,
According to BBC World News, "there is" between Swiss Banks and The Cayman Island Banks, somewhere in the neighborhood of $21,000,000,000.00 "thats twenty one trillion dollars" or to put it another way, "TWENTY ONE MILLION MILLION DOLLARS" that is using us to avoid taxation, and let us say that Cayman is handling one half of that amount, say [$10.5 Trillion Dollars] So let us use a little logic here and assume that the local banks that are handling this money are getting a small fee for their services, and then there are "The Law Firms" which are also getting their piece of the pie for whatever they do for the clients. NOW!! Wouldn't it be logical that The Government of the Cayman Islands should be getting a small piece of this Pie as well? Of Course they should!
So let's think about this! Would it be asking too much if "Our Government" levied what I will call a "Transfer Accommodation Fee" [on an annual basis] of say 0.5 of a percentage point. Based on the above this would amount to some $52.5 million dollars we would collect annually. These fees are then placed in an interest baring fixed deposit account that can not to be touched for any reason other than those projects which have been approved by the "whole house" and/or for National Emergencies.
"WE WOULD NEVER, EVER, HAVE TO BORROW MONEY AGAIN"
That number is grossly
That number is grossly incorrect and plain out wrong. 90% of these big numbers come from onshore deposits by cayman branches. It's technical, but sufficed to say the money is not here. It just makes news for a POPCORN HEADLINE CULTURE.
There isn't anywhere near as
There isn't anywhere near as much money in Cayman banks as your post suggests, but in any event money is the ultimate liquid asset - if you try to put a fee on it being in Cayman, it will simply flow to another bank in another jurisdiction at the speed of a wire transfer. "Capital goes where it's welcome and stays where it's well treated." --Walter B. Wriston. Continually adding to the cost of doing business in or through the Cayman Islands will simply push that business elsewhere, as you have already seen with the outflow of money and business from Cayman and the closing of the local businesses that relied upon and serviced that inbound business. That treatment of international business is ill-conceived and is akin to a vampire looking for a way to suck out all the rest of the blood from its last available victim as quickly as possible - that makes for a good meal, but it starves to death immediately thereafter.
Tell me of the Trillions of
Tell me of the Trillions of dollars, are we getting any of it? I have lived here all my life and I haven't got a bit of that money. So does it really matter to me? No!
The Cayman Islands with 21
The Cayman Islands with 21 Trillion dollars, on paper yes but never in a million years would that actual amount of money sit parked in a bank here in Cayman. A small fraction of that kind of actual money is here on island. The government have to tax what they can get their hands on thus income, property or VAT.
For 3 years they have been
For 3 years they have been travelling the world and partying like there is no tomorrow.
Now they are running around like the older generations used to say "like a chicken with its head cut off'...
And here we are - the victims trying to figure out what they should do.
If this was some years back and Mac was in the opposition he would be marching and screaming at the top of his voice for the government to "RESIGN"
I just figured this whole
I just figured this whole think out Mac is a smart man. I read here that a majority of you expats are going to leave the island; well this means you will have to take a flight. Say 10,000 of you leave that’s $790,000 in airline taxes. Now believe it or not all expats are replaceable. Employers will hire new people that will be aware of this 10% tax; they too will have to fly, so there’s another 790k. Now the employers will have to get work permits, say average $2250per person well that’s $22,500,000. YOU SEE MAC’S A SMART PERSON. LMAO!!!!
On a serious note, Mac appears to have no idea what he is doing here, are you crazy Mac you can’t start taxing anyone’s salaries. You have a chance to make a real difference in your last term, yes last term, you are not getting back in, so why not do the right thing, and a really hate to say this but listen to Mr. Miller cut the CS.
We have Government land right now that is on lease, we you know what you’re selling are road to Dart, so why not sell these properties too, Safehaven sell it for 30mil, Ritz 30mil, and while you are at it sell the Governor’s house ask 30mil (I’m sure someone will buy it). So where are we at now? 90mil just on selling these properties? Hey I’d be calling Dart up tomorrow (lol). Now go to the guy who owns the old Hyatt, I thought you imposed a fine of him of 25k per day some 2yrs ago. Well that’s approx. 20 mil. SH…. I just made the 100mil you needed.
Now after doing the above, cut CS make them pay for their dependent’s health coverage(Mac says he’s going to), collect fees that you are currently not collecting, sell off some of these Gov Authorities, Cayman Airways, Turtle Farm, Water Company, Dump, what you could also do is set up a Gov bond say for 20yrs, but his time you sell to Caymanians at a rate of 4%. Then let’s do a lottery, scratch cards, and a casino. Oh forgot, start charging people to send their kids to Gov schools
I know my ideas aren’t the smartest but let’s work together to see what we can come up with, WE DO NOT NEED ANY FORM OF INCOME TAX. If this goes through guess what, we Caymanians will start getting taxed and once it starts all it can do is go up.
Ah, in previous articles I read someone saying a person was complaining that Mac is going to make CS pay health for dependents and they will not be able to afford to pay, but they make a salary of 60k per year. Well to this person and other CS with great salaries give up your 40-70k SUV or Car, buy a second hand one, live in your means. Some of my staff make this and don’t drive these fancy cars, they do however own their homes.
I’m sure I’m going to get thumbs down now… mind you my 1st paragraph is pretty fun hey?lol
Cayman will probably survive
Cayman will probably survive this silliness.
Many of the professional expats that Cayman needs are here because of the life-style, not the bottom line dollars.
10% tax will cause some to leave. That is true. Some will stay, that is also true.
It is also true that other professional expats will come because of the diving and life style. Caymanians, you truly live in a paradise and many of you just don't realize it, you take it all for granted.
Cayman will muddle through this tempest-in-a-tea-pot that is stirred by the bunch of corrupt and incompetant politicians that rule this very small town. The expats find them infinitely entertaining; the stooges supply much humour over drinks at the posh Caymanian expat bars. McKeeva is a laughing stock in those circles.
Caymanians, don't worry you will survive. However, your national pride will be deeply hurt if you continue to vote for and support the current generation of politicians (There might be one or two exceptions, but they are brow beaten).
I feel a lot of empathy for the young, competant, hard working, well educated, well trained, ethical, and very wonderful Caymanians that I know. I just wish that they had the courage to step up to plate at take on McKeeva and his stooges, It is too bad that McKeeva and his stooges have made the political environment in Cayman so horribly toxic. The PPM are also part of the problem.
Good luck, I wish you all well.
Kneel, pray, and hope for the best.
Probably
Probably survive?
Professional expats here for the lifestyle?
Expats laughing and joking at politicians over drinks?
Kneel, pray and hope for the best?
1. Thanks for the glass half empty support.
2. I'm going with money - most expats are here for the TAX FREE money they earn. And they will leave if/when that is taken away. I sure would.
3. Those people must be bored and not out there enjoying the Cayman lifestyle. But hey, at least they are partaking in Cayman's national pastime while supporting the local economy.
4. Kneel - Okay, you must be Catholic - you really could have left out kneel. It's kind of creepy.
Peace to you.
1. Sell Cayman Airways. 2.
1. Sell Cayman Airways.
2. Cut the pay packet for Caymanian civil servants who are makeing over $100,00, especially the MLAs.
3.Sell or close Boswains Beach.
4. Close the Department of Tourism. The private sector can do a great job of selling our tourism product all on its own. They are motivated by profit, not stooge phoney-baloney jobs.
Ooooops!!!! I forgot, corruption is the elephant in the room. No one wants to deal with it.
I would like to add 3 items
I would like to add 3 items to your list.
1. Sell Cayman Airways
2. Sell Cayman Airways
3. Sell Cayman Airways
After the next election we could perhaps find a new revenue source by contracting out the financial expertise of McKeeva to other jurisdictions for a reasonable rate.
"1. Sell Cayman Airways".- We
"1. Sell Cayman Airways".- We need Cayman Airways
"2. Cut the pay packet for Caymanian civil servants who are makeing over $100,00, especially the MLAs".- That I agree with.
3."Sell or close Boswains Beach."- I think we should keep that as well.
4. "Close the Department of Tourism. The private sector can do a great job of selling our tourism product all on its own. They are motivated by profit, not stooge phoney-baloney jobs." -
First of all, the private sector expects government to market for them. Second of all, DOT is more than marketing.
"Need Cayman Airways?" Why?
"Need Cayman Airways?"
Why?
Bermuda has exactly 14% so
Bermuda has exactly 14% so all you talking foolishness about Bermuda check your facts. The Gov't got it right this time its either them or us and if it was us being tax you honestly believe they would be carrying on like how they are. Its about the money Cayman and some expect Caymanians to carry the burden they have help put on our infrastructure and when they can just get up and leave us with the debt. How come their is a flurry of ideas and suggestions all of sudden but before they just sat there indifferent to most our problems. As for those trying to assimilate with others ,you will learn what many others had to learn the hard way. So run along their and march till your little hearts content, but when the FCO says everybody should pay see if you will be singing the same tune then. When you start to talking about human rights now what about our indigenous rights as Caymanians being drown out and stifled by some who have come here to work and are given preferential treatment and jobs and are paid more money than some of our own people who are more qualified for the same jobs. No one likes the implications of what is happening here but many need to stop being hypocrites of convenience.
I totally agree with you. And
I totally agree with you. And to all the people who keep saying that expats are not chosen over Caymanians are lying because I am experiencing it myself, having been in the offshore financial industry for years and years. I have never had a bad report by any employer I have worked with and if I do say so myself am very good at what I do but having been in a recent accident, when I returned to work, there was an expat who had been hired to be team leader, an expat who had never worked in an office in her life or knows nothing about the financial industry, who came right out of school, tell me why she was given the role of team leader over two Caymanians who have the knowledge and capability of taking on that role, its because I work for expats and they look out for each other or they know her parents well. Then they hired someone else to do filing etc who also never worked in an office in her life. Could that job not be given to a young Caymanian. So give me a damn break, there is a whole lot of discrimination against Caymanians and it has been going on for too long.
So someone with an 8 year
So someone with an 8 year education in their field, and 10+ years experience is less qualified than a Caymanian drop out with 2 years experience as a clerk? I don't see it here, I see companys hiring the best person for the job, which is someimtes a Caymanianian, and sometimes an expat. Let's face it, when you get to 'the pros' or management, your work permit is $15,000 KYD per year, never mind the cost to relocate you in the first place. Any employer than picks an expat over a Caymanian with the same qualifications won't be in business too long, as they don't understand business. This topic has been beat to death about 'qualified Caymanians' being passed over for expats with the same or less skills, and who are then paid more. Come on people, that just isn't happening here, most companies would prefer the Caymanian.
If you're really telling me Caymanians with the same or higher qualifications are being passed over for less expereinced and more-expensive expat workers, then let's face it - there is obvioulsy something wrong with the Caymanian worker (why else would an employer pay more for less?).
Not only are you a convenient
Not only are you a convenient hypocrite, you are convenient with the facts. Bermuda has a payroll tax, yes, but employees only pay a small part of it (about 5.24 per cent) and certain industries (retail and hospitality) have no payroll tax at all. In addition, for the industries that do have to pay payroll tax, all residents - not just expats - pay it. So before you start admonishing people to check their facts, please check you facts.
Inconvenient truth, you too
Inconvenient truth, you too must get your facts straight go to http://www.deloitte.com/assets/Dcom-Global/Local%20Assets/Documents/Tax/Taxation%20and%20Investment%20Guides/2012/dttl_tax_highlight_2012_Bermuda.pdf don't muddle the waters let all the people read and understand the truth about the tax issues in Bermuda and elsewhere. Remember everyone who is reading the comments on CNS can also get the fact they need from the web.
You Sir or Madame, you
You Sir or Madame, you invited us here.
I understand that PPM and the
I understand that PPM and the Independent member are discussing whether or not to suggest as an alternative to the payroll tax an increase in import duty..This seems like an excellent idea since there already exists an agency to collect these duties and this would allow changes to take effect immediately.. Should Govt continue with the payroll tax idea it will take months to implement, as a whole new Department will need to be created; laws will have to be drafted and passed ;and an education campaign launched explaining to everyone exactly what is required. e.g will this be based solely on salary/wages or will allowances be included.Once this is known we will find that schemes/plans will be put in place to legally avoid paying this, such as having a part of ones salary paid as an allowance if allowances are excluded.(In he same way that Americans ,for example use the Cayman Islands to legally ,and sometimes illegally,avoid paying certain US taxes) Adjusting import duty would also allow for more time to get feedback on other suggestions to improve or enhance revenue. Once new revenue streams are identified and implemented duty could be rolled back with minimum disruption as it will not be necessary to close any Department or lay off any staff as would be the case if a new tax collection agency had been created for the payroll tax . Mr Alden and Mr Ezzard ,please don't be too slow to put this out there ,it is an excellent idea.It certainly is less disruptive and divisive than this "community enhancement Fee.As soon as the decision has been made to scrap this payroll tax we must start a News campaign to lessen the damage that the announcement of this payroll tax has done to our image and reputation as a tax free destination.
McKeeva... The Captain of the
McKeeva... The Captain of the S. S. Cayman Fitzgerald! The gales of November come early.
I'm willing to bet the
I'm willing to bet the proverbial 'dollars-to-doughnuts' that there have been NO credible, reliable studies done to date to find our what it will cost to collect and enforce this monumentally stupid idea. I'll also bet the same amount that it will be more than will be Government's income and will take YEARS to set up properly. Just look at the IRS - both in the UK and the US - they've been at it for years and STILL haven't got it right!
Give it up, Mad Mac! Just another of your absurd, illconcieved schemes!
"Imagine there's no
"Imagine there's no countries
It isn't hard to do
Nothing to kill or die for
And no religion too
Imagine all the people
Living life in peace... "
Thumb down to The
Not the Beatles, John Lennon!
Not the Beatles, John Lennon!
Argument of the Day: "IT IS
Argument of the Day: "IT IS ALL THE PREMIER THAT IS IMPOSING THE TAX..... not the innocent good little uk foreign and commonwealth service"
Mac would have a much easier
Mac would have a much easier time selling the expat income tax if he would only rename it to something like a "Work Permit Fee Refund Adjustment" or an "Import Duty Refund Adjustment". This sort of thinking worked well for Lisa Simpson when she was President of the United State and needed to raise taxes.
Unfortunately, Mac likes to play "kick the expat" when an election year is looming. Come to think about it, so does the PPM.
I seem to remember Mac floating ideas about cutting the civil service wages by 20%, then 9%, then 5% then finally he sold it as the rollback of the 3.2% cost of living adjustment. It will be interesting to see how much back-pedaling that Mac will do with this issue and where we will end up six months from now.
"May you live in interesting times". -- Ancient Chinese curse.
Cayman we caused this on
Cayman we caused this on ourselves. We kept voting back in UDP, PPM, UDP, PPM, and then UDP... when are we going to learn to put in politicians that stand for people only and not party interest. These parties spent, borrowed, spent, and borrowed and put their hat up high like there was no tomorrow. This is a lesson for all of us. The Premier has to follow though with the UK orders to tax. That is how we are here
Listening to the idiot on
Listening to the idiot on Radio Cayman, notably McKeeva just said he will not impose the payroll tax on Caymanians at this time. AT THIS TIME - get it, it means he WILL impose it on Caymanians later.
Any Caymanian that supports this tax is an utter fool and is complicit in the destruction of the Cayman Islands economy. There is no doubt whatsoever that the payroll tax will be catastrophic. Seems like there is a procession of idiots praising Bush.
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