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DVSTT wrote:
Gambling people protesting.
ingalook wrote:pugboy wrote:Skybox companies will probably introduce an "invoicing" service where they will makeover an invoice
From Amazon to some other name and imaginary address
Get those thoughts out of your head - it is a tax on your Credit Card BILL!
Also - since the government now has a copy of your credit card Bill - remember how you used to "gift" and under-invoice your skybox purchases? - That's going to be mighty difficult when government knows what you bought, when you bought it, and exactly how much you PAID
S_2NR wrote:ingalook wrote:pugboy wrote:Skybox companies will probably introduce an "invoicing" service where they will makeover an invoice
From Amazon to some other name and imaginary address
Get those thoughts out of your head - it is a tax on your Credit Card BILL!
Also - since the government now has a copy of your credit card Bill - remember how you used to "gift" and under-invoice your skybox purchases? - That's going to be mighty difficult when government knows what you bought, when you bought it, and exactly how much you PAID
The day this happens I am never buying anything online again. Will wait till I travel.
Stupid pnm
DVSTT wrote:S_2NR wrote:ingalook wrote:pugboy wrote:Skybox companies will probably introduce an "invoicing" service where they will makeover an invoice
From Amazon to some other name and imaginary address
Get those thoughts out of your head - it is a tax on your Credit Card BILL!
Also - since the government now has a copy of your credit card Bill - remember how you used to "gift" and under-invoice your skybox purchases? - That's going to be mighty difficult when government knows what you bought, when you bought it, and exactly how much you PAID
The day this happens I am never buying anything online again. Will wait till I travel.
Stupid pnm
Local merchants hadda eat too.
S_2NR wrote:DVSTT wrote:S_2NR wrote:ingalook wrote:pugboy wrote:Skybox companies will probably introduce an "invoicing" service where they will makeover an invoice
From Amazon to some other name and imaginary address
Get those thoughts out of your head - it is a tax on your Credit Card BILL!
Also - since the government now has a copy of your credit card Bill - remember how you used to "gift" and under-invoice your skybox purchases? - That's going to be mighty difficult when government knows what you bought, when you bought it, and exactly how much you PAID
The day this happens I am never buying anything online again. Will wait till I travel.
Stupid pnm
Local merchants hadda eat too.
Na screw them. I not going to be strong armed or give this government one red cent in unjustified taxes.
DVSTT wrote:
Gambling people protesting.
shogun wrote:Bitter pills I admit. Even I might not agree with every avenue the administration decided to take. Amazing though, how irate tuners are at the grown-ups that have to clean up the mess we're in and not the children that put us here in the first place. Expenditure vs revenue, everyone. Carry on...
zoom rader wrote:Citizens 0, PNM financiers 2
Hope you all now understand why Ford Rangers are overpriced now. Apparently ANSA new luxury tax was coming and upped their Ranger prices long before.
Ppl will now look to go with rangers rather than 50% on cars over 2l.
It's a win win for PNM Financiers, they get all the US they want cause you are now taxed 7% and you will be buying their Rangers.
I told you all this long before
Kalisnakov wrote:Iran,Ukraine,Chechnya,Burmese,Egypt,Tuareg,Venezuela,Turkey,Brazil
TRINIDAD IT IS TIME!!!!!
!!!!!!!
Lance wrote:I am speculating that there is a bit of scapegoating going on regarding online shopping.
Firstly, this is not an issue of recovering taxes from corporations operating outside of Trinidad. It is about dampening the demand of online shopping to curb forex leakage.
With that in mind, has the government released a estimate for the amount of forex leakage that is occurring through online sales? I heard a number mumbled during the presentation by a back bencher but i'm yet to see a concrete number.
Instead, all we hear is "increasing popularity of online shopping was another culprit, with purchases being paid for by credit cards." or "online shopping is an area of tremendous leakage of this country's foreign exchange" or "Online purchases are now a significant area of foreign exchange demand" (real quotes from newspapers).
And then we over the last 3 years we have the following "corporations":
Pricesmart - US$507 million
Smith Robertson and Company — US$169 million
AS Bryden — US$153 million
Massy Distribution US$136 million
All of which are glorified online shoppers engaged in buy-markup-resell businesses. They offer NO domestic value added and simply transfer surplus from consumers. Will these companies also attract the 7% tax?
The government needs to quantify the leakage attributable to online shopping and provide us with a comparison on how this stacks up with the "corporations" involved in the same line of business- Essentially they are putting the similar strains on forex.
Whether an individual needs these products is another debate. But we need to understand how this affects competition and the distribution of income. Online shopping and low limit credit cards (1000USD limits) have provided the common man with an alternative source for goods and services that could not be afforded on the local market. This had had direct implications on the standard of living for citizens.
This 7% tax is essentially closing the online market and passing the bargaining power back to these "corporations". Their profits will continue to soar and the income will be payable to a select class locally. How many of you own shares in these "corporations"?.
I'm not disputing the need to curb forex leakage. I'm just disturbed in the biased manner in which its being orchestrated. Clearly you can see who the big winners are.
Kalisnakov wrote:Iran,Ukraine,Chechnya,Burmese,Egypt,Tuareg,Venezuela,Turkey,Brazil
TRINIDAD IT IS TIME!!!!!
!!!!!!!
REVOLUTION !!!!!
Gladiator wrote:The online purchasing tax seems to really be a Credit Card tax. Once you use it outside of T&T or online you pay 7%. This is robbery, the result would just be persons going to the bank, buying US and spending the cash abroad.
Yes because 7-13% price increase is much more than airfare, accommodation and transport
The reduction in online shoppers and increase in cost of products sold by small businesses that trade online would result in closure of these micro enterprises and killing of the entrepreneurs that take the little risk to buy online and start up.
Yes because 7-13% would equate to more than your mark-up and thus your business model collapses
This is a deliberate attempt to put the power back into the hands of big business and strip the buying power from john public. These tax measures would see the country creep back into the 1980s where only the "big boys" could drive the nice car, own a business, carry their family down the islands, live in gated communities etc.
Yup because even when "john public" raises their price by 7-13% which is still cheaper than the 100% mark-up of local merchants the buying public will choose to pay the higher price because PNM make them do that (btw if you're an internet buy and sell person you are a local merchant too)
The tactic is an old and vicious one used by Imbert... keep the population at large repressed, when all they studying is where the next meal and rent money coming from they would behave and keep the straight and narrow line and not complain. And you would see no more Roget and OWTU kickup.... they will tell you now to be happy you have a job cause we all know that with the cost of living now you might as well be dead if you unemployed.
eliteauto wrote:Gladiator wrote:The online purchasing tax seems to really be a Credit Card tax. Once you use it outside of T&T or online you pay 7%. This is robbery, the result would just be persons going to the bank, buying US and spending the cash abroad.
Yes because 7-13% price increase is much more than airfare, accommodation and transport
The reduction in online shoppers and increase in cost of products sold by small businesses that trade online would result in closure of these micro enterprises and killing of the entrepreneurs that take the little risk to buy online and start up.
Yes because 7-13% would equate to more than your mark-up and thus your business model collapses
This is a deliberate attempt to put the power back into the hands of big business and strip the buying power from john public. These tax measures would see the country creep back into the 1980s where only the "big boys" could drive the nice car, own a business, carry their family down the islands, live in gated communities etc.
Yup because even when "john public" raises their price by 7-13% which is still cheaper than the 100% mark-up of local merchants the buying public will choose to pay the higher price because PNM make them do that (btw if you're an internet buy and sell person you are a local merchant too)
The tactic is an old and vicious one used by Imbert... keep the population at large repressed, when all they studying is where the next meal and rent money coming from they would behave and keep the straight and narrow line and not complain. And you would see no more Roget and OWTU kickup.... they will tell you now to be happy you have a job cause we all know that with the cost of living now you might as well be dead if you unemployed.
Sometimes I wonder if it's just oppose for opposing sake, so many armchair economists but none willing to admit we're broke
This tax is intended to help manage the increase in foreign exchange outflows from online purchases, reduce revenue leakage and assist local manufacturers and service companies to compete with overseas retailers.
Kalisnakov wrote:Iran,Ukraine,Chechnya,Burmese,Egypt,Tuareg,Venezuela,Turkey,Brazil
TRINIDAD IT IS TIME!!!!!
!!!!!!!
REVOLUTION !!!!!
Lance wrote:eliteauto wrote:Gladiator wrote:The online purchasing tax seems to really be a Credit Card tax. Once you use it outside of T&T or online you pay 7%. This is robbery, the result would just be persons going to the bank, buying US and spending the cash abroad.
Yes because 7-13% price increase is much more than airfare, accommodation and transport
The reduction in online shoppers and increase in cost of products sold by small businesses that trade online would result in closure of these micro enterprises and killing of the entrepreneurs that take the little risk to buy online and start up.
Yes because 7-13% would equate to more than your mark-up and thus your business model collapses
This is a deliberate attempt to put the power back into the hands of big business and strip the buying power from john public. These tax measures would see the country creep back into the 1980s where only the "big boys" could drive the nice car, own a business, carry their family down the islands, live in gated communities etc.
Yup because even when "john public" raises their price by 7-13% which is still cheaper than the 100% mark-up of local merchants the buying public will choose to pay the higher price because PNM make them do that (btw if you're an internet buy and sell person you are a local merchant too)
The tactic is an old and vicious one used by Imbert... keep the population at large repressed, when all they studying is where the next meal and rent money coming from they would behave and keep the straight and narrow line and not complain. And you would see no more Roget and OWTU kickup.... they will tell you now to be happy you have a job cause we all know that with the cost of living now you might as well be dead if you unemployed.
Sometimes I wonder if it's just oppose for opposing sake, so many armchair economists but none willing to admit we're broke
Imbert made this statement during the presentation:This tax is intended to help manage the increase in foreign exchange outflows from online purchases, reduce revenue leakage and assist local manufacturers and service companies to compete with overseas retailers.
The minister seems to think that the items purchased online via credit cards are being done at the expense of LOCAL manufacturing. Surely you don't agree with this? So if the "local" firms are essentially online bulk importers of the same goods then why are we acting like they are not putting a similar type of strain on forex leakage?
Shouldn't non-productive forex leakage be exposed to a similar type of tax?
eliteauto wrote:Lance wrote:eliteauto wrote:Gladiator wrote:The online purchasing tax seems to really be a Credit Card tax. Once you use it outside of T&T or online you pay 7%. This is robbery, the result would just be persons going to the bank, buying US and spending the cash abroad.
Yes because 7-13% price increase is much more than airfare, accommodation and transport
The reduction in online shoppers and increase in cost of products sold by small businesses that trade online would result in closure of these micro enterprises and killing of the entrepreneurs that take the little risk to buy online and start up.
Yes because 7-13% would equate to more than your mark-up and thus your business model collapses
This is a deliberate attempt to put the power back into the hands of big business and strip the buying power from john public. These tax measures would see the country creep back into the 1980s where only the "big boys" could drive the nice car, own a business, carry their family down the islands, live in gated communities etc.
Yup because even when "john public" raises their price by 7-13% which is still cheaper than the 100% mark-up of local merchants the buying public will choose to pay the higher price because PNM make them do that (btw if you're an internet buy and sell person you are a local merchant too)
The tactic is an old and vicious one used by Imbert... keep the population at large repressed, when all they studying is where the next meal and rent money coming from they would behave and keep the straight and narrow line and not complain. And you would see no more Roget and OWTU kickup.... they will tell you now to be happy you have a job cause we all know that with the cost of living now you might as well be dead if you unemployed.
Sometimes I wonder if it's just oppose for opposing sake, so many armchair economists but none willing to admit we're broke
Imbert made this statement during the presentation:This tax is intended to help manage the increase in foreign exchange outflows from online purchases, reduce revenue leakage and assist local manufacturers and service companies to compete with overseas retailers.
The minister seems to think that the items purchased online via credit cards are being done at the expense of LOCAL manufacturing. Surely you don't agree with this? So if the "local" firms are essentially online bulk importers of the same goods then why are we acting like they are not putting a similar type of strain on forex leakage?
Shouldn't non-productive forex leakage be exposed to a similar type of tax?
Now you're offering a different response from the one I addressed above so we can't lump that response with your point. I has always been against insularity when those being insular offer a poor product and get protection just for the sake of nationality, so yes of course I agree fully that non-productive forex leakage should be plugged. I don't support the tax however I also don't support the nonsensical doom and gloom rubbish that seems to be gaining traction by I'd have to assume are non-business owners, the reality is businessmen will adapt and we both know the first line is to pass the increased overhead on to the final consumer, here is where competitiveness and choice steps in. The fact is this tax while appearing to be punitive in nature to small importers is moot... stupid but moot
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