Ex Minister of Finance Jean Paul Adam has left his bouncy policies hanging about, that show he has no understanding of how/ what makes a economy work, what will make it grow.
President Danny Faure I am sure means well, but he surrounds himself, with these quasi professionals that wear Lacoste tight shirts, tight pants, and sound good, but dish out a lot of non sense. I will clearly, outline the nonsense for Mr. President, dished out by Minister Jean Paul Adam at Finance. Here it goes.
I. Minister is proposing before he goes to Ministry of Health (Hell) the following:
Presumptive tax shall go from 1.5% straight to 5%.
Here Minister, the defender of Small Medium Enterprises, instead of reducing their tax exposure, he increases it. This is non sense because Minister does not take into account how difficult it is to run a small business in Seychelles. Most Employers cannot pay themselves. Additionally, most small business under the SME schemes and SENPA have traditionalLy been employment substitution schemes. Now Minister wants to gauge this group of 5% on turnover, before deducting expenses. May as well dish them some lanet. They will die an easier death, Minister.
II. Minister is proposing to raise Business at as on sole traders, to a whopping 20% , just like that, inclusive will be partnerships.
What has the government done more to merit 5% more in taxes? When you work out the numbers, the amount is astronomical, what will MOF do with all this money? Taking these funds from business, that must replenish stocks, re invest, take loans at 15% interest which is a crime in itself to compete, is again more Nonsense, dozed in lack of practical experience by a theoretical Minister, who has turn Ministry of Finance up,side down, and turn the Public against Le Pep.
III. The Minister and his tight shirt Principal Secretary Patrick Payet who has a fixation for blue cocktails and long straws, want to curb abuse of the system. More Non sense. Abuse can only be determined on a case by case basis, that is why you have AUDITS. Minister treats turnover as income, without regard for stock maintenance and the need to meet operational expenses. In taxation, it is like Minister is on Uppers and Downers or at least his principal Secretary is.
Mr. President, blood test these "dudes", you will never know what you find.
What is clear, is the reaffirmation that the Minister lacks a firm footed position in understanding how a economy works and how businesses function. He also attempts to pass on his own ministries failure to adequately staff to deal with the challenge we face. A double standard tax system is what he has created. A system where some must pay, others do not have to pay. A system where operators can scam the fine lines of concessions and make millions in some cases. All and all, he has advance an unfair and overly complicated system that has gone beyond his ability to reasonably Police and monitor.
National Assembly Must Draw The Line
When this bogus nonsense comes before the National Assembly, they must bin it. Simple. After that, let Adam go sort through the expired medications Mitcy Larue administration ordered, while she was at Health.
Mr. President, heads up, Adam is pulling a fast one so people laugh at you.
Sesel Pou Seselwa!
May God Bless All Freedom Loving Seychellois!
21 comments:
That tells us ,that the minsitry of fiance has poor internal record keeping ,lacks integrity,and fiancnial transparency that allow effective taxation.
Moreover, ap presumptive tax system must conform with FIVE major canons of a good tax.These include,certainty,Economy,convenience,fairness/equity and simplicity ....JENPA's proposal lacks all of these five canons.
Of cOURSE jenpa would try to tell us that a Presumptive tax would:Minimize tax invasion and avoidance,improve tax assessment,minimises advert of progrEssive tax......MAybe ..but what you propose suck businesses at an astronomic amount ...we cannot pay for the failures of PLs fake Economists namely..Michel ,Faure and Now Jenpa...
As the article rightly puts it --the Assembly must give Jnepa/Pl proposal a big fat no--- for we refuse being disincentive and pay for pl corruption and past errors.
Jenpa forgets that people go into business to make a reasonable profit.
His proposal inhibits profit. Profit is hard when you have 16% interest rates to finance business.
Jenpa all those Diamond Class tickets you bought, at the expense of the people- how many cases of HIV medication Ministry of Health could have bought to keep Seychellois alive?
I agree with above. I add Mr. Jenna/ now you are at Health you see sick dying Seychellois so do you now see how your system failed our people? Do you see it or you are blind. This is my donation.
Ministry of health is testimony to Failure of Le Pep!
What about the hard to tax ?.The complexity is in the method of taxing and is rooted in the practicalities of Tax administration and has to do with groups of Taxpayers whose tax amounts are quite low(small businesses ,self-employed etc) compared with the administrative cost that would have to have to incurred by the administration to assess the proper amount of tax.
Here some factors that contribute to their being hard to tax:their numbers are great,making it imposible to scrutinize more than a small faction;
-their incomes are small,often below poverty line;
-they are not compelled by business(i.e nontax)reasons to keep adequate books of account;
-they sell largely to the population for cash.hence can easily conceal their security;
But the biggest problems in waht Jenpa wants is increase tax on business by 5 percent thereby rob them from the net profit and make them pay for pl fialures and embezzlemnet scheme.
How is JENPA going to scrutinize Michels OFFSHORE COMPANY?
HOW is JENPA going to find out the multi- millions five star hotels keep outside seychelles and banked abroad?
JENAPA could have chosen of taxes schemes such as:
-PROPERTY TAX---tax collects from commercial complexes,indsutrial houses,residential complexes fund ,
_luxury CAr ---Tax on Luxurious Car --like those imported on her minsitrys name(therefore free from airport duty and fee) for private use;
-CAPITAL GAIN TAX---for instance ,when the sons of Mitsy are being allowed to buy governemnt land than resell it to foreigners ...... JENAP CAN Implement A gAIN TAX ON PROPERTY.
A CARBON TAX jenap --that is a tax on all cars for opultion their produce----noting:since there are more cars than business in seychelles .jenpa would probably be able to collect more tax with carbon tax than taxes incurs by businesses.
etc-etc-etc-etc-
We will see if JENPA excels Mitsy when it comes to worsening the health system,and if he performs even worse as he did as finance minster.
How does Jenpa wants to tax a small fisherman,who sells his catch for cash on a daily,directly on the beach to locals and donot has a bookkeeping?How is jenpa going to be able to tax a farmer who sells three bananas to his neighbour?Does jnepa wants this farmer to record the cost of three bananas he sold to his neighbour?COme on Jenpa? thats a joke.
Would Michel releases his income genrate by his OFFSHORE COMPANY ?
I am a resident of Eden island and own my own home in Seychelles. The minister did the right thing not to tax us. We can relax in paradise without a worry. We use the roads, water, electricity we pay like others we pay. Why should we pay more then that? We rent our houses and bank money over seas when we are not in Seychelles. It's our money. Without our invest,net Seychelles would be bankrupt. So we are happy. You are happy. Stop talking about taxing our houses. Don't you dare try to tax our boats and tell us not to fish in the ocean.
WEll, firstly ,if you resident in seychelles and hold only a house,then like in msot EUroepan countires ..you should force to stay a protractive period in seychelles ...for instance, in Switzerland ,,,any foreigner having a house or villa in switzerland(soely apply to temporary resident) has an obligation to stay or be 6 month per year in switzerland,that he villa when he is not in the country is not being rented ..etc...
IF you a permanant Resident then you have to fill tax form and pay tax too like nay of resident.
Big luxurious boat must Pay. mooring tax like it is normal practices in Monaco ,in europe and else where.
YOur big luxurious car when it is imported should be taxed (luxury car tax)like Australian does.
-Eden Island were you owe a villa ,should be Tax (Property Tax on REAL ESTATE)
-Tax cars for their polution --with a Carbon tax
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As jnepa is proposing a tax schemem that disenfranchise businesss not to say suck them dry like a tic on a milk cow --Dr FAUre has created a big government ,in order to ensure his party members is not unemployed and now he wants SR +:& million monthly to cater his big government ----No FAure we donot have money to feed your party members ...reduce personnel in government instead ..not need to have a principal secretary to the economy minister than a seperate special adviser d^soly for the so call BLUE ECONOMY,,new ministry like interior just ot give Mitsy a job could be cancelled .....local mayors can get the job done .....
I small country with limited resources and then you build a big government .........too many personnel in government ........what are the special adviser like the one to BLUE ECONOMY and other purpose Faure ..the minster and principal secretary of economy can do the job on a SPECIAL ADVISSOR ON BLUE ECONOMY.....
Time ot spend wisely and cntro lespend of state FUARE especially after Pl bankrupt our land ,and has created an astronomic debts ..
REDUCE SEIZE OF GOVENREMNT FAURE ....SWITZERLAN WITH 6 PLUS MILLION INHABITANT HAVE 7 MINISTERS ONLY ..AND WE WITH 89 THOUSANDS HEADS WE HAVE A BIGGER GOVERNEMNT THAN SWISS FOR ISNTANCE.
November 9,2016 @ 2:04 pm
We do not pay property tax on our villa. Because there is none. My villas is worth € 3 million. You expect me to pay say 2% value on this per annum like all other jurisdictions? Are you out of your mind? Why should I pay property tax on my Eden island home? My yacht is worth € 2 million. I do not pay tax on my yacht. There is no law that says I must pay tax. I enjoy the Seychelles shelter it works fine. I spend less and less time in Seychelles. Therefore it makes good business sense to rent my villa for €1,000.00 per night, 20 nights a month. I rent my yacht thru the broker at Eden Island. He banks my money over seas, I get mommy to enjoy my retirement. What is the problem? It is a win win situation. I get great money for my investment. The tourist get a great place to stay. Seychelles people get to look at my lovely villa from the top of the hill, enjoy the view of my yacht. This attracts more people.
Not u .Eden Island ,PAngia,Felicite island...these complex building owners should.....rather than strangling local businesses already handing over more than half of their revenues to Pl.
We foreigners are not interested in paying any charges in Seychelles. Tough it out. Fight among yourselves. We will not pay.
YOu foreigners ..it is not up to you as such to decide what you would or not do in a sovereign land but the host country government will dictateto you tis conditions----- ..you will abide with laws set up or leave .....you cannot decide in seychellois place.
I believe Eden ISland owners who was gifted a reclaimed island paid by tax payers money for SR + devaluated rupee by pl ...pay Property tax ..for the Eden island has built house complexes to rent mainly to foreigners thereby making lots of money ,,often banked abroad that we do not even know how much they collect from their clients .(financial leakage)...they must contribute their fair share.
Pangia soon would operate like Eden island ,Dito to Felicite Island..........--Moreover ,these so apartments rent to foreigners often are then offers as Hotel or guest rooms to other foreigners when the foreign owner is absent or abroad ..thereby illegally compete with licensed guest houses ,small hotels ........while not having a license to operate as such .......and of course Pl government to stop the abuse that destroy licensed guest houses.
In other words ,Pl must get the money somewhere else ,on those who literally pay nothing such as Eden Island,etc......not sucking local business each time pl wants more money to pay for its addiction to spending without control like a drunken sialor ,and without creating wealth to cover what they wasted.Pl can find billions in a swiss bank robbed and banked by Pl...JENPA can find 50 millions dollar in uk bank ,gifted to seychellois by Khalifa and robbed by Faure and Michel...Pl can tax importation of prodcuts available locally like fishes ,vegetable etc .being now imported from abroad at low price by five star hotels,..pl can make Michel pay his taxes genrated by his Offshore company.......Pl can tax these big luxurious yachts for mooring or bocking fee,,,pl can TAx khalfia his ariport and duty fee,...there are lots of posibilities for pl to collect money to pay its excessive expenses and addictions to creating astronomic foreign debts ......
One more thing ..Pl can legalize GRASS ..thereby collect millions in tax ,,,,at the same time put pl hard drug dealers out of work ,and by doing so reduce hard drug abuses ,crimes related to hard durg comsumption..illness and so on....
What pl cannot do and we will not let it does...is contniue to suck loclas businesses with taxes while big foreign owed companies like Eden Island pays nothing at all as contributions.WAht they do these big foreign companies is now and then fool seychellois by organizing charity donation which is a^peanuts in regards to the taxes they should contribute-----"Hey where here is a dozen T -Shirt for kids,it cost SR 1 rupee in china but my taxes i will not pay "This discrimination and abuse must stop.
FAure is going to increase spending on government by SR :1.6 million monthly .......too big a government FUARE......For instance ,what the prupsoe of having a so called SPEICAL ADVISOR (education)Marida DELCY ,,linda Barallon is not competent enough to get this done without a special advisor.
Minsitry of Health----Anther SPECIAL ADVISOR -Marie-josee bonnelame --what for pl ..can the principal secretary get the job done?
MINISTERY OF HOME A FFAIRES --has TWO SPECIAL ADVISORS---Michel Maria and sherly Vangadasamy
MINSITRY SPROT ANDCULTURE -- tw osepcial advisors_--kEVIN vIDOT AND jEAN lAURE ---WAHT FOR faure...
ministry fo transport ----special advisor Gerald hOUREUA ---WAHT FOR THIS PSEICLA ADVISOR faur`?
ministry fo fisheries --two special advisors _---rOY CLARRISSE AND mOUSTAHCE ---WAHT FOR faure?
ministry of businessy innovation _--SEPCIAL aDVISOR-- v .bREESON --WAHT FOR faure?
ministry foceconomy --SPECIAL ADVISOR--- sITNA CESAR ---WAHT FOR faure?
wHAT THE PURSPOE OF HAVING THESEX SPECIAL ADVISORS faure ---TO GIVE PL MEMBERS JOB BY CREATING FAKE POSTION OR USELESS POSTION ..WHILER INCREATING COST OF GOVERNEMNT SPENDING WITHOUT JUSTIFICATION ---THERE IS NO NEED FOR HAVING sPECIAL ADVISORS ...I BELEIVE THE MINSITERS AND pRINCIPAL SECRATARY AND TEAM SHOULD BE ABLE TO DO THE JOB WITHOUT USELESS SPECIAL ADVISORS WHO ARE JSUT POSTION TO KEEP PL MEMBERS ACTIVE ...
wE HAVE A CABINET BIGGER THAN MANY WESTENR COUNTIRES WITH MULTI MILLIONS OF INHABITANTS --Switzerland ONYL / MINSITERS.
Austria HAS / MINISTERS
Belgium 8 MINISTERS
sPAIN --13 MINSITERS
seychelels CABINET OF MINSITERS ---WEL L13 LIKE IN sPAIN FOR A POPULATION OF 90 INHABITANT ---TO BIG ,SUELESS AND COSTLY FOR TAX PAYERS ... sr +;& MILLION MONTHLY TOOO EXPENSIVE FOR SEYCHELLOIS AND HAVE NO CONVINCING PURPSOES LIEK THESE SO CALLED special advisors IN ALL MINSITERS THAT ARE FAKE POSITION FOR PL MEMBERS WITH NO EFFECT --remebr special advisor FOR blue economy -----WHAT HE ADIVSE BETTER THAN OTHERS --?nOTHING AT ALL .JUST FICTIVE PSOTION TO SUCK TAX MONEY-
mAKE YOU GOVERNEMNT SMALL faure ..IT IT TOO BIG AND COSTLY ....
I MEANT....SWITZERLAND AND Austria ---7 MINSITERS EACH ONLY WITH MILLIONS OF INHABITANTS
reVOEK THOSE FICTIVE POSITION faure --NAMELY special advisors POST --THEY USELESS ,,FAKE ,COSTLY AND WITHOUT PURPOSES ----------sr 1.6 MILLION MONTHLY COULD BE SUE T OTRAINEYOUTHS IN A PROFFESION .HELP SMALL BUSINESSES OR NEW SMALL BUSIENSES CREATION .....THIS MOENY COULD BE USED MORE EFFECTIVELY AND PURPSOELY THAN TO PAY FICTIVE CABINET POSITIONS FOR PL MEMBERS DR FAURE------
This is a valid point.
Faure needs to react.
LDS needs to hold accountable,
Do not approve this budget balloon.
These people are being used by Faure for campaigning nothing else.
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