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Wednesday, December 9, 2015
Reality Check Round 2
23 comments:
Anonymous
said...
Michel will leave office ,leaving behind a broken economy to the new government.FOREIGN AID......,that Pl believed would. be a catayst,has been instead,the biggest i.hibitor of Seychelles! Growth.Among its shortcoming,foreign aid has fostered dependency and invariably instils bureaucracy that has hindered the emergence of an essential enterpreneurial class.Hence,for Seychelles to grow in a sustained way,foreign aid will have to be reduced dramatically overtime,forcing Seychelles to adopt more transparent policies to finance development.
The development finance that has been the hallmark of consistent growth across the world has almost universally comprised of a mix of four essential elements: ~Trade and Commerce ~FDI ~Microfinance ~And access to international capital markets
I can,argued,that foreign aid~~regardless of how efficient it is utilized~~causes massive long~term damage for minimal short term gain.No country in the world that,has,successfully made the leap from being an under developed to a developed economy has relied heavily on aid.
A new government will have to walk away from the trend of dependency on foreign aid,pl has set,.......it is ,as michel government has demonstrated destructing from sustainable development,.....and creates addiction.
Over a 5 year period, we should be able to extract ourselves from IMF by doing the following: 1. Attend to corruption and have a zero tolerance. 2. Stop giving our resources away at less than real market value. ie untold benefits to large hotels, fisheries, land transfers at SCR 1. IDC 3. Repatriate the billions of dollars that have left our coffers illegally. The above is just a flavour of how to go about it.
Mr Gill, I fully agree with you suggestion. We have enough non Seychellois benefiting from our beautiful islands without any contribution. The 2 % property tax is still on the very low side when the largest 'hotel' establishment ie Eden Island Self Catering Apartments and Maison pays ZERO taxes. Do not forget the Rene Regime endebted the Seselwa population for the reclaimation of Eden Island. Its only foreigners reaping the full benefit and us Seselwa gets nothing in return.
Just the 1st months property tax will more than suffice to pay all our elderly a decent monthly pension of SCR7000 as proposed by Mrs Amesbury. The remaining surplus can go towards reducing our debts.
As for Mr Khalifa, he can still enjoy our shores. We should make it clear to him that he needs to respect our dignity. We do not want any freebie from him. We expect to tax his palace fairly. Unfortunately, Khalifa has been backing a political party, rather than the people of Seychelles. I am sure he will understand this once the dust settles. No one wants to get rid of him, but he needs to respect us, we will respect him in return. However, all deals will have to be at 'arms length'.
But - what are we doing with the Arab at Baie Lazare and his henchman Suleiman, who is not only enjoying his Seychelles passport but is also a close ally to PL and Michel. They are on the phone together all the time, I have witnessed it.... After all, he and his so called boss were bringing foreign prostitutes to our shores, making Baie Lazare and the former Plantation Club a huge and super exclusive brothel - and themselves guilty of human trafficking. Will that ever come to our (hopefully then) independent courts?
Seychelles passport gifted illegally to foreigners must be revoked --Why ---Because it is illegal ,it raped our laws----Seychelles constitution is clean -----only foreigners mairred to a Seychellois can obtained our passports --and not by buying or else----we need to correct pl crimies in order that iit is not repeated again...Dito to our land that have been sold to foreigners --all are unconstitional and it must be corrected -------There is only one from of legitimate source of alw in Seychelles namely our Constituion ...be Siva Suleiamn all those persons who received our passports illegally must give back ....If there is among them ,doing business then they would be given a special Residebnet Permit as Businessman n0pt Seychellois passport and that regardless how long the live in Seychelles or have business in Seychelles......
A2.05 Pm ..you right ..but donot forget too..that as long as Khalfia reside in Seychelles he would have to pay for the LEASE of our LNAD AR LA MESIERE or other kinds of contribution -----Khalfia is not Seychellois nor king of Seychelles and there is no reasons we is exemple from paying the leasing of our land at LA mISIERE..
He has to pay his Airport taxand landing fee when he park his big jet at Point Larue....and for imports...etc.....
The 2 percent property tax is an annual tax. It must be based on real estate value of the asset. Appraisals must be made every two or three years, attached to the tax invoice. This is insure Eden island residents pay their fair share of taxes, and the tax burden is spread and reduced across the entire spectrum of the national tax base. This is how the country can reduce VAT from 15 percent, to 12 percent, then 10 percent, as non Seychellois property tax compliance increases. Additional revenue can be raised in a similar manner, by GOS in outraging high end vill development schemes, which for example Hawaii, Mauritius have done, to increase tax revenue with nominal impact on the local population tax burden. The development schemes encourage Foriegn Direct Investment ( FDI). Seychellois should be encouraged to partner up. GOS focus must be on creating new tax initiatives from those not paying their fair share, and benefit greatly from residing in paradise and having an address here. I have spoken to government leaders on this over and over, but they seem to have their feet in cement on Taxing foreigners. Strange, because all foreigners will be willing to pay their fair share. In return Seychellois will not feel so much respite and tensions could be reduced.
We all need each other, but the deal cut by PL is not a fair deal for Seychellois so far. They can do better. The opposition if they win an election can do better.
What determines Exit from A AID DEPEDENCE? Ait at its current level is unsustainable.Greater reliance on local experts is needed to promote the country-owned development. Seychelles must assume responsibility for their own development. What is needed is an exit stragety ,with aif(for instance)not amounting to no more than let us say .2 percent GDP and targeted at projects for which the government is providing the bulk of the funding.
Lastly .Aid in itself is anti-democratic as iad flows in,citizens of the recipient countires effectively become dis--enfranchised and increasingly all their governemnts need to do to stay in power is to court and cater to foreign donors. This anti -democratic system has reinforced social inequities and pernicious form of authoritarianism that empoweres the elite few ,while keep the mass in adject poverty.
We can get rid of foreign aid,ifceverybody pay their fair share........Khaliss....these big yachts at Eden Island,Expats should also pay somesort of tax on their come......five star hotels importing fruits,vegetable,fish avalsible locally..........Have IDC,SEPEC MONRY control and manage by finance minister not Glenny .............2,4 billion in swiss bank and more..........canx mps lifebpension,and set up a pension in accordance with time serve as public servant ,mps etc...........
Just the potential tax to be collected from Eden Islands 1.4 Billion USDollar project is over $ 200 Million per year. We simply cannot ignore these figures, while our people suffer with 15 percent VAT.
The sooner the new elected President takes good notice of the property tax for foreigners, the sooner we can start express repay our external debt. But just be very careful. If Michel is re-elected, he will collect the USD200million per year, but this amount will just disappear like Morgan & Hassan Ali, without a trace ! On the other hand, if Wavel wins, we will have to wait and see if he can remain true to his words and not be a corrupt leader like Michel.
An important figure for a small economy like ours.When add the tax that can be collected from the big luxurious yachts ankered at Eden,,,,,.fee on land lease to five star hotels,the latter create zero revenue at the moment ,to seychelles economy.......Non european fishing boats fishing legally in our EEZ,and not dedeclared by pl.....Foreign residents with no profeesional activities like Siva ... we can reach easily a billion annually.......plus other government revenues ......rthere is no need to dependent on foreign aid. If government money is well~managed. I strongly believe also,that,five star hotels notcreating economic linkage,must be asked tovpay for land leased them........we can not continue to have a government plays father christmas to foreigners while ,as u say,strangle locals with all sorts of taxes........ And foreign investors must be encourage to part in joint venture with seychelois...as the Seychellois/russian tuna fleet........or as countries like,china has been doing to protect locals,while not close to foreigners.... the latter,create a balanced sizuation which is not dangerous for a country economy..........
Yachts are moored here tax free year round. It is outrageous to learn we do not earn anything serous from the super yacht market. This issue has been raised with Finance, they said they had to study it. This is no time to study loss potential revenue. We are losing large amounts of money on cruise ships as well. On Praslin, we have lost 25 million over the last month in business activity simply because a pontoon was dis functional and unsafe and GOS has not establish proper protocol for these ships in port, to allow local operators, to benefit from their presence. DMC like Masons and Creole literally HOG the business under their monopolistic chain that GOS has yet to react on and has passed the matter on to 1 st quarter 2016. The country just cannot function in this manner, it defies logic.
Addendum The yachts come on three month no tax visiting status. Then they stay. Port Authority either takes goose for their anchoring, or they are not being monitored. The amount of money the system loses is in the millions. At Eden there are not more then 200 yachts. I do not see why these yahcts cannot be placed on an excel spreadsheet and handled.
Because you need qualified people to run the Port Authority. You need qualified, educated, Seselwa that can work an excel spreadsheet. You need someone who can research too see what other destinations such as Cannes, Monaco and affluent playground are charging. We might attract more super yachts if we were to charge a suitable fee. Most fair owners of these yachts may not feel comfortable with free anchoring ! I am sure they will feel better in themselves when they have contributed their fair share to our beautiful destination and address.
Port Authority is run by an incompetent Ex Colonel from Seychelles Defense Forces and it shows. If kouyon run a organization, expect the results produced by a kouyon!
Anchoring fee or fare share......anyhow,they must pay something.Be it in the Carribean island states,pacific island states,and other coastal countries...all have charge ,whatever,the method use,anchoring charges.....there is no justified reason why seycelles must be an exception.
23 comments:
Michel will leave office ,leaving behind a broken economy to the new
government.FOREIGN AID......,that Pl believed would. be a catayst,has been instead,the biggest i.hibitor of Seychelles! Growth.Among its shortcoming,foreign aid has fostered dependency and invariably instils bureaucracy that has hindered the emergence of an essential enterpreneurial class.Hence,for Seychelles to grow in a sustained way,foreign aid will have to be reduced dramatically overtime,forcing Seychelles to adopt more transparent policies to finance development.
The development finance that has been the hallmark of consistent growth across the world has almost universally comprised of a mix of four essential elements:
~Trade and Commerce
~FDI
~Microfinance
~And access to international capital markets
I can,argued,that foreign aid~~regardless of how efficient it is utilized~~causes massive long~term damage for minimal short term gain.No country in the world that,has,successfully made the leap from being an under developed to a developed economy has relied heavily on aid.
A new government will have to walk away from the trend of dependency on foreign aid,pl has set,.......it is ,as michel government has demonstrated destructing from sustainable development,.....and creates addiction.
We should start by extracting ourselves away from IMF !
Moving away from IMF is simple/ pay your debts and meet your target.
This means keep the country stable, and keep our people working, and keep FDI inflow up.
Khalifa the third pillar of PL economy will not be there to deposit $ 100 million per year for operational costs.
Be prepared for the price of change and freedom.
Sesel Pou Seselwa!
Christopher Gill
Over a 5 year period, we should be able to extract ourselves from IMF by doing the following:
1. Attend to corruption and have a zero tolerance.
2. Stop giving our resources away at less than real market value. ie untold benefits to large hotels, fisheries, land transfers at SCR 1. IDC
3. Repatriate the billions of dollars that have left our coffers illegally.
The above is just a flavour of how to go about it.
The loss of Khalifa revenue can be replaced by placing a 2 percent tax on non Seychellois owned houses and land.
Make this effective 2016.
It will reduce the tax burden on each Seychellois.
I have proposed this to GOS numerous times, they did not act on it.
I really do not know why.
Sesel Pou Seselwa!
Christopher Gill
Mr Gill, I fully agree with you suggestion. We have enough non Seychellois benefiting from our beautiful islands without any contribution. The 2 % property tax is still on the very low side when the largest 'hotel' establishment ie Eden Island Self Catering Apartments and Maison pays ZERO taxes. Do not forget the Rene Regime endebted the Seselwa population for the reclaimation of Eden Island. Its only foreigners reaping the full benefit and us Seselwa gets nothing in return.
Just the 1st months property tax will more than suffice to pay all our elderly a decent monthly pension of SCR7000 as proposed by Mrs Amesbury. The remaining surplus can go towards reducing our debts.
As for Mr Khalifa, he can still enjoy our shores. We should make it clear to him that he needs to respect our dignity. We do not want any freebie from him. We expect to tax his palace fairly. Unfortunately, Khalifa has been backing a political party, rather than the people of Seychelles. I am sure he will understand this once the dust settles. No one wants to get rid of him, but he needs to respect us, we will respect him in return. However, all deals will have to be at 'arms length'.
Agree in regard to Mr. Khalifa.
But - what are we doing with the Arab at Baie Lazare and his henchman Suleiman, who is not only enjoying his Seychelles passport but is also a close ally to PL and Michel. They are on the phone together all the time, I have witnessed it.... After all, he and his so called boss were bringing foreign prostitutes to our shores, making Baie Lazare and the former Plantation Club a huge and super exclusive brothel - and themselves guilty of human trafficking. Will that ever come to our (hopefully then) independent courts?
Seychelles passport gifted illegally to foreigners must be revoked --Why ---Because it is illegal ,it raped our laws----Seychelles constitution is clean -----only foreigners mairred to a Seychellois can obtained our passports --and not by buying or else----we need to correct pl crimies in order that iit is not repeated again...Dito to our land that have been sold to foreigners --all are unconstitional and it must be corrected -------There is only one from of legitimate source of alw in Seychelles namely our Constituion ...be Siva Suleiamn all those persons who received our passports illegally must give back ....If there is among them ,doing business then they would be given a special Residebnet Permit as Businessman n0pt Seychellois passport and that regardless how long the live in Seychelles or have business in Seychelles......
A2.05 Pm ..you right ..but donot forget too..that as long as Khalfia reside in Seychelles he would have to pay for the LEASE of our LNAD AR LA MESIERE or other kinds of contribution -----Khalfia is not Seychellois nor king of Seychelles and there is no reasons we is exemple from paying the leasing of our land at LA mISIERE..
He has to pay his Airport taxand landing fee when he park his big jet at Point Larue....and for imports...etc.....
The 2 percent property tax is an annual tax. It must be based on real estate value of the asset. Appraisals must be made every two or three years, attached to the tax invoice.
This is insure Eden island residents pay their fair share of taxes, and the tax burden is spread and reduced across the entire spectrum of the national tax base.
This is how the country can reduce VAT from 15 percent, to 12 percent, then 10 percent, as non Seychellois property tax compliance increases.
Additional revenue can be raised in a similar manner, by GOS in outraging high end vill development schemes, which for example Hawaii, Mauritius have done, to increase tax revenue with nominal impact on the local population tax burden.
The development schemes encourage Foriegn Direct Investment ( FDI). Seychellois should be encouraged to partner up.
GOS focus must be on creating new tax initiatives from those not paying their fair share, and benefit greatly from residing in paradise and having an address here.
I have spoken to government leaders on this over and over, but they seem to have their feet in cement on Taxing foreigners.
Strange, because all foreigners will be willing to pay their fair share. In return Seychellois will not feel so much respite and tensions could be reduced.
We all need each other, but the deal cut by PL is not a fair deal for Seychellois so far. They can do better. The opposition if they win an election can do better.
Christopher Gill
What determines Exit from A AID DEPEDENCE?
Ait at its current level is unsustainable.Greater reliance on local experts is needed to promote the country-owned development.
Seychelles must assume responsibility for their own development.
What is needed is an exit stragety ,with aif(for instance)not amounting to no more than let us say .2 percent GDP and targeted at projects for which the government is providing the bulk of the funding.
One approach Seychelles government might adopt is to formulate an aid exit strategy by appointing a Techinical working group with participants from the Public ,Private Sector and civil society.
The work group would need to make realistic assessments of the FOLLOWING:
-the flows of aid from all sources and their contribution to growth and development.
-The capacity of the government in particular and public sector more broadly to provide theservcies which are truly of a social nature----basic health ,education ,law and order .housing ,food security ,infrastructures etc....
-Areas of opportunitiey within the private sector for therapid growth of output ,exports and employment and the public support(if any)required to promote these actitivies-
-Firststep..is that Seychelles can get rid of aid dependency by adjusting their mind set.
-Budget for the poor not for the donors is identified as a second step towards ending aid dependence.
_Is putting employment and decent wages up front
-by creating the domestic market and owning domestic resources.
-Is plugging the resources gap.Instead of of looking for aid and foreign Captial,it would be feqsible domestically to block or reduce some of the transfer price michanisim,or refusing to pay illegitimate foreign debts.$_is a creation OF INSTITUIONS FOR INVESTING nATIONAL SAVINGS----DEVELOPING A STRONG cNETRAL bANK ,WHICH TOGETHER WITH GOVERNEMNT MINSITRIES CAN REGUALTE THE fiancé and banking sector,building together with government ministries of social infrastructures,building the nations knowledge and research capacity in innovative research relevant to the skill sets and resources available within the country and that its independent of global knowledge porduces such as World Bank and the organizations For Economic Cooperation and development.
Lastly .Aid in itself is anti-democratic as iad flows in,citizens of the recipient countires effectively become dis--enfranchised and increasingly all their governemnts need to do to stay in power is to court and cater to foreign donors.
This anti -democratic system has reinforced social inequities and pernicious form of authoritarianism that empoweres the elite few ,while keep the mass in adject poverty.
The proposal made by Gill,is a real solution to get rid from aid addiction.Post 6,54 also relevant.
We can get rid of foreign aid,ifceverybody pay their fair share........Khaliss....these big yachts at Eden Island,Expats should also pay somesort of tax on their come......five star hotels importing fruits,vegetable,fish avalsible locally..........Have IDC,SEPEC MONRY control and manage by finance minister not Glenny .............2,4 billion in swiss bank and more..........canx mps lifebpension,and set up a pension in accordance with time serve as public servant ,mps etc...........
Just the potential tax to be collected from Eden Islands 1.4 Billion USDollar project is over $ 200 Million per year.
We simply cannot ignore these figures, while our people suffer with 15 percent VAT.
Sesel Pou Seselwa!
Christopher Gill
The sooner the new elected President takes good notice of the property tax for foreigners, the sooner we can start express repay our external debt. But just be very careful. If Michel is re-elected, he will collect the USD200million per year, but this amount will just disappear like Morgan & Hassan Ali, without a trace ! On the other hand, if Wavel wins, we will have to wait and see if he can remain true to his words and not be a corrupt leader like Michel.
Wavel is a big gamble on arrogance!
An important figure for a small economy like ours.When add the tax that can be collected from the big luxurious yachts ankered at Eden,,,,,.fee on land lease to five star hotels,the latter create zero revenue at the moment ,to seychelles economy.......Non european fishing boats fishing legally in our EEZ,and not dedeclared by pl.....Foreign residents with no profeesional activities like Siva ... we can reach easily a billion annually.......plus other government revenues ......rthere is no need to dependent on foreign aid. If government money is well~managed.
I strongly believe also,that,five star hotels notcreating economic linkage,must be asked tovpay for land leased them........we can not continue to have a government plays father christmas to foreigners while ,as u say,strangle locals with all sorts of taxes........
And foreign investors must be encourage to part in joint venture with seychelois...as the Seychellois/russian tuna fleet........or as countries like,china has been doing to protect locals,while not close to foreigners.... the latter,create a balanced sizuation which is not dangerous for a country economy..........
Yachts are moored here tax free year round. It is outrageous to learn we do not earn anything serous from the super yacht market.
This issue has been raised with Finance, they said they had to study it.
This is no time to study loss potential revenue.
We are losing large amounts of money on cruise ships as well.
On Praslin, we have lost 25 million over the last month in business activity simply because a pontoon was dis functional and unsafe and GOS has not establish proper protocol for these ships in port, to allow local operators, to benefit from their presence.
DMC like Masons and Creole literally HOG the business under their monopolistic chain that GOS has yet to react on and has passed the matter on to 1 st quarter 2016.
The country just cannot function in this manner, it defies logic.
Christopher Gill
Addendum
The yachts come on three month no tax visiting status.
Then they stay.
Port Authority either takes goose for their anchoring, or they are not being monitored.
The amount of money the system loses is in the millions.
At Eden there are not more then 200 yachts. I do not see why these yahcts cannot be placed on an excel spreadsheet and handled.
Sesel Pou Seselwa!
Christopher Gill
Because you need qualified people to run the Port Authority. You need qualified, educated, Seselwa that can work an excel spreadsheet. You need someone who can research too see what other destinations such as Cannes, Monaco and affluent playground are charging. We might attract more super yachts if we were to charge a suitable fee. Most fair owners of these yachts may not feel comfortable with free anchoring ! I am sure they will feel better in themselves when they have contributed their fair share to our beautiful destination and address.
Port Authority is run by an incompetent Ex Colonel from Seychelles Defense Forces and it shows.
If kouyon run a organization, expect the results produced by a kouyon!
SPA - Kouyon = EXCELLENCE!
Anchoring fee or fare share......anyhow,they must pay something.Be it in the Carribean island states,pacific island states,and other coastal countries...all have charge ,whatever,the method use,anchoring charges.....there is no justified reason why seycelles must be an exception.
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