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April 21, 2009 | Permalink
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I like that....
It's about putting the books in order and clearing the cobb webs in the closets. VP was even nice enough to give amnesty because he knows that the people are going through a though time with this economic recession. Very impressive....
April 21, 2009 at 02:38 PM
The idea of giving tax amnesty or a tax holiday is a novel one that deserves credit. However, I must insist that the MOA/VP carefully look at the ROP Gov's apparent cash crunch to see if this would or would not pose a threat to government cashflows and maybe payroll for many many consumers and patrons of businesses.
Businesses need a break in light of the bad economy but numbers have to be carefully looked at.
Double edged sword in my view but any effort to help things/businesses in this climate is welcome. Let us not give tax breaks to those businesses that have historically not done a very good job of paying their taxes in full.
April 21, 2009 at 03:07 PM
While I do agree Mardi,
I think the idea is getting people to the table. Agreements, Promissory notes, and Acknowledgements would be made accordingly. It kinda sets the path and the map of where we are at and where we are going knowing how much we will get in return. After this amnesty thing is over it will be a whole new ball game.....LOL!
It was just a thought my friend, what do you think...
April 21, 2009 at 03:25 PM
Good point on getting people to come to the table and acknowledge their share of taxes. The success of this is however, is dependent on each taxpayer and their history with paying their fair share of taxes for their businesses. There is a very long history of abusing the system, getting away with not paying and running to the higher ups to erase taxes owed.
There is a tendency that I've seen amongst some, not all of the business owners, especially the more established or more politically connected to go with the attitude of "they'll give us an inch so we shall take a whole yard..or mile." Same goes for the debts owed to the Belau National Hospital.
It's just the "ou Belau er ngii" attitude that sometimes doesn't help the current situation. However, I do stress that if this helps businesses out in the short term, it probably is a good idea. Granted, I haven't really read the whole article in the paper.
April 21, 2009 at 04:49 PM
I hope the tax amnesty is not for people who made money through corrupt practices.
Tax amnesty can be a loophole for politicians and others to wash clean their dirty black money.
The government must be careful with the wording for the tax amnesty to be given.
Let us hope that the tax amnesty does not assist Nakamura, TR, TS and ES to wash cleen the ill gotten corrupt money.
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April 22, 2009 at 12:06 PM
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