Category: maagmutniybj

New VAT regime to drive up prices, inflation rate ― PSC

first_img…pharmaceuticals to become more expensiveThe new Value Added Tax (VAT) regime being introduced by the Government through the Finance Ministry for 2017, will drive up prices for goods and services locally and the punitive tax measures announced could very well see more and more legitimate businesses being forced underground.PSC Chairman Eddie BoyerThe Private Sector Commission (PSC) on Thursday met the local media to give its post-budget analysis and used the occasion to caution Government over its tinkering with the VAT rate.It was explained that under the proposals submitted by the Finance Ministry, VAT will now be applied to a range of items including medical and education supplies but the recategorising of zero rated and VAT exempted items will create problems and could also in fact drive up prices.The officials explained that non-taxable items were not captured in the process but items that had attracted a zero rate to consumers still attracted VAT on many of its raw commodities.It was explained for example that while flour or bread might have been zero rated, many of its input commodities attracted VAT and under the current arrangement companies using such products would have been able to recover its expenses on the vatable inputs.According to the PSC, now that the items have been placed into an exempt list, companies will not be able to recover any part of their investments and as such the total costs will have to be passed on to consumers.It was pointed out that NAMILCO already projects losses in the vicinity of $200 million annually.The PSC has since called on Government to come forward and offer some clarity on the matter since the Minister’s presentation has left more questions than answers.Huge blowIt was pointed out too that under the list presented by the Minister of Finance, items required for school and other essential services such as visiting the doctor will now also be attracting VAT.According to Chairperson of the PSC Committee on Economics and Financial Affairs, Ramesh Persaud , if Government is going to charge VAT on education then it is going to be a huge blow to the middle-class. It was pointed out that essential drugs and medical supplies will now be attracting VAT. This means that a patient will not only have to pay VAT on their doctor’s visit at a private hospital but any prescriptions to be filled will become more expensive.This obtains since drugs will also now be attracting a 14 per cent VAT, inherently driving up the costs to be paid by consumers.According to Persaud, “it is a significant challenge,” even as he called on behalf of the PSC for Government to revisit is new VAT regime.Persaud was of the view that should the new VAT regime as indicated by Government were to go ahead then it will inherently drive up prices and the inflation rate in the country.The PSC briefly weighed in on the proposal by the Finance Minister to place VAT on electricity and water, saying that this too will serve as a disincentive to small businesses.It was noted that while large manufacturing companies would be able to recover VAT paid on electricity and water, the same would not obtain for smaller businesses.The PSC also used the opportunity to set the record straight on assertions being peddled that the vast majority of customers of the Guyana Power and Light will not be affected since 80 per cent fall below the vatable limit.According to the PSC, while the bulk of the customers may fall into the smaller category of payment, the bulk of the actual payments come from the rest of the customers, specifically the small and large businesses.Underground economyThe PSC also railed against several other proposals by Government with regard to the readjustments of other taxes, fees and penalties.According to Persaud, punitive measures will not enhance the tax net but will in fact make it harder for persons in the informal sector to become formal and could in fact force more businesses into the underground economy. Persaud said some of the measures proposed by the Finance Minister are in fact impractical.He pointed to the requirements for businesses large and small to maintain their books or face fines and jail time should they fail to comply with this requirement.Persaud queried whether a hypothetical audit of businesses be conducted, what would happen to the stall holders and minibus operators who would have a difficult time maintaining accounting records.He said what the new measure will mean is that if called upon to produce their books and a small business owner is unable to, then they are subject to a $200,000 fine along with six months imprisonment.According to Persaud, “we must have a conscience…we agree that every business must maintain records but what about small business vendors…are we going to ask them to hire accountants?”Persaud maintained that large businesses will not be affected by the requirement to maintain records but it is the vendor, farmer and small business operators that will feel the brunt of the penalties. He suggested that the move could in fact force more businesses out of the formal economy, reminding of the Guyanese adage “stricter the government, wiser the population.”Budget cutsAnother of the queries made of Government by the PSC is the new requirement for contractors to pay a two per cent withholding tax as an advance tax.The PSC made it clear that the Minster was unclear as to what categories of contractors that would be required to make the payments. It was pointed out that some contractors are already made to pay an advance tax and the addition of a withholding tax will just add to the overhead expense. The PSC also expressed reservations over the decision to require Budget agencies to pay VAT. The PSC also used the occasion to rail against the proposed increase in late fees for filing returns with GRA and questions whether GRA will operate reciprocally, and asked whether the tax authority will in fact pay a taxpayer the applicable 18 per cent fee should it be late in making its returns.last_img read more

Botched drug smuggling lands artist in jail

first_img– 61-yr-old attempted to smuggle ganja into Camp St prisonCraftsman Ishwar Persaud of Leopold Street, Georgetown was on Monday arraigned before Georgetown Magistrate Judy Latchman on a charge alleging that, on August 31, 2017, he attempted to smuggle into the Camp Street Penitentiary 20 grams of marijuana reportedly concealed in the soles of a pair of boots.Unrepresented by legal counsel, the 61-year-old pleaded not guilty to the offence of trafficking in narcotics, and explained that his neighbour had asked him to take the footwear to a remand prisoner named Ralph Franklin.Police allege that on the day of the incident, the elderly man had visited the prison, and searches conducted on his person revealed the narcotics hidden in the said footwear. He was thereafter escorted to the Alberttown Police Station (Georgetown), where the leaves, seeds and stems suspected to be marijuana were weighed in his presence. He was subsequently charged with the present offence.Persaud was not placed on bail, and will remain incarcerated until September 18, 2017, when the matter will be called again at the Georgetown Magistrates’ Courts for a pre-emptory hearing. (Paula Gomes)last_img read more

FIFA ban Cameroon, docks Togo points

first_imgFIFA statutes require that the game’s national governing bodies be able to conduct their affairs free from official control.“During the period of suspension, FECAFOOT may not be represented in any regional, continental or international competitions, including at club level, or in friendly matches,” FIFA said.It said a special committee would be set up to organise elections for a new FECAFOOT governing body by the end of March next year, and would meantime run the game in Cameroon.In a separate announcement, FIFA said that it had punished Togo for fielding suspended Jacques Alexys Romao in their June 9 Group I home game against Cameroon.Togo have already admitted they were wrong to play the Marseille midfielder in the 2014 World Cup Africa zone qualifier.Ironically, FIFA’s decision to dock three points from Togo would have been a major bonus for Cameroon, changing their 2-0 defeat into a 3-0 victory.Cameroon are two points behind Libya ahead of a September showdown in Yaounde to decide who wins the group, but the FIFA penalty against Togo would move them into a one-point lead.But that advantage will be purely academic unless Cameroon can persuade FIFA to lift their ban.0Shares0000(Visited 1 times, 1 visits today) 0Shares0000GENEVA, July 5 – FIFA on Thursday banned Cameroon from international competition due to state meddling in their football association, meaning they fail to gain from a decision to dock rivals Togo three points for fielding a suspended player in their World Cup campaign.In a statement, FIFA said that Cameroon’s FA, or FECAFOOT, had been suspended with immediate effect owing to “government interference”, but did not elaborate.last_img read more

Taylor resident receives Queen’s Diamond Jubilee medal in Victoria

first_imgThere will be no wall mounts or framing of the highly praised medal, as Holmes says she will be proudly wearing her medal on her auxiliary uniform.Holmes says she has never received an award of this calibre before. She was one of 59 individuals to receive the award, handed out at the Government House, but only one of nine members of the Royal Legion Auxiliary.Holmes is the president of the B.C./Yukon Command Ladies Auxiliary of the Royal Canadian Legion, and received the prestigious award in honour of her 40 plus years of dedicated service to the Ladies Auxiliary.To add to the already special event, the award was presented to Holmes by his Excellency Stephen Point, Lieutenant Governor of British Columbia.- Advertisement -She said winning the award was as shocking as it was an honour.”I was very honoured to receive it, but also quite surprised when I was told I was nominated for it and I couldn’t believe I had been nominated and was going to receive this award. It was a total shock.”Holmes received word of her nomination approximately two months ago, receiving the nomination through the Legion Auxiliary 2 B.C/ Yukon Command.Advertisementlast_img read more

District of Taylor and Charlie Lake firefighters also providing valuable help to Williams Lake wildfires

first_imgA typical structural fire truck was sent along with the crew. Allbury says he wish they could have sent more but also needed to keep some equipment in the area incase of a emergency in northeast B.C. WILLIAMS LAKE, B.C. – The District of Taylor and Charlie Lake firefighters have also stepped up to play a big role in the ongoing wildfire efforts, specifically near Williams Lake.Taylor Fire Rescue Chief, Edward Albury says that the two fire departments have been doing similar work to that of the Fort St. John Department.“We basically did the same thing that Fort St. John has done. They are working with the sprinkler crews, shuffling water. Today they are out looking for hotspots.”The first crew to go included three firefighters from Taylor and one from Charlie Lake. The next crew, which arrived today, also consisted of three members from Taylor and one from Charlie Lake. Allbury says two members of the first crew were already on their way back.- Advertisement -Allbury added that they will work with the other fire departments until they are no longer needed. He also thanked Charlie Lake for being willing to volunteer their time.“Honestly, without the help of Charlie Lake offering their guys and having a bunch that are so willing to help out, they want a four man crew in the area with the truck and for us to do it just based on availability and membership would be hard.”Advertisementlast_img read more

Could this money buy you happiness?

first_imgBy Alan Fram and Trevor Thompson THE ASSOCIATED PRESS Today’s young people have a complicated relationship with money, dismissing it as a paramount source of happiness yet conceding its power over them. Money is nowhere near the top of the list when they are asked what makes them happiest. Friends and family are their chief pleasures, followed by God, pets and pastimes like listening to music. But money can certainly help, according to an extensive poll by The Associated Press and MTV. And a lack of it – and the pressures it can cause – can sure make their lives unhappy. The survey of the nation’s young people found only 1 percent name money as the thing that gives them the most joy. Twenty percent name spending time with family, and 15 percent cited friends. Yet financial issues are among several problems atop the pile of things they say make them most unhappy. And while most are happy with the amount of money they and their families have, money ranks as their fourth-highest source of stress, and 55 percent say there are many things they can’t afford. “Our son wasn’t planned, and we’ve basically been scrambling since I got pregnant,” said Wendy Hill, 25, an employment coordinator from Worthington, Ohio, where she lives with her husband and son. “It’s very frustrating and causes a lot of strain.” Many sense that down the road, money will have a telling effect on their lives. Asked to describe their ideal vision of happiness, the most frequent responses are having no financial worries and a good family, each mentioned by one in five. “I want to have a family when I grow up and be able to support it,” said 18-year-old Theresa Paoletti of Spencerport, N.Y., a college student battling money problems since getting a car two years ago. “If I don’t get rich I won’t complain, but it’s always nice to have money.” Further underscoring young people’s ambiguity, 49 percent say they would be happier if they had more money, but the exact same amount say additional money would leave them about as happy as they already are. By several measures, those in middle-income households express feeling the most financial pressure, even more so than lower-income people. About one in eight of those earning $50,000 to $74,999 a year cite money as the factor that makes them unhappiest, almost double the rate for those making less. They are also likelier than lower-earning people to list it as their chief source of stress. Money worries increase with age in the survey, with four in 10 of those aged 21 to 24 cite it as their major problem – 20times more than those aged 13-15.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

Bad news for Walcott? How £50m star could fit in at Arsenal

first_img1 Raheem Sterling’s Liverpool future is dominating the backpages currently as he seems set to turn down a new contract.Once the England winger finally tells his employers he would like to exit Anfield his next dilemma is his destination.Several clubs have been linked with the fleet-footed flyer over the last year, including Liverpool’s Premier League rivals Arsenal.With rumours swirling, Gunners boss Arsene Wenger refused to rule out a move for Sterling, saying earlier this week: “In the summer we will bid for people; at the moment we are not in transfer mode at all,” said Wenger.“You absolutely want me to say something that I don’t want to say. I don’t like to lie. If I say that I will and I don’t do it, then I have lied.”But if Sterling does swap Anfield for the Emirates just where will the 20-year-old fit in?In all likelihood, Wenger will use Sterling on the flanks and with the Frenchman currently using Alexis Sanchez on the left, it seems sensible to assume the 20-year-old would feature on the opposite side as the duo look to feed striker Olivier Giroud.While both England and Brendan Rodgers have used Sterling through the middle, Wenger is unlikely to play him where he already has the likes of Aaron Ramsey, Mesut Ozil, Jack Wilshere and Santi Cazorla, even if he loses Tomas Rosicky this summer.Adding the Three Lions starlet to Gunners’ squad would certainly give the Emirates faithful a fearsome front three to cheer on, but it could also spell the end for England team-mate Theo Walcott, who seems unable to force himself into the first-team despite recovering from injury.How Arsenal could line-up with Sterling… Arsenal target Raheem Sterling center_img 1last_img read more

Berahino latest – Tottenham deal collapsed when they offered just £6m up front

first_imgTottenham’s bid to sign West Bromwich Albion striker Saido Berahino collpased because they were prepared to pay only £6million up front.The England Under-21 international was desperate to seal a move to White Hart Lane and submitted a transfer request last week to try to push through the deal.But the Baggies stood firm on their £25m valuation and turned down a total of four bids from Spurs, including two on Tuesday.There were reports Tottenham had tabled a ‘take it or leave it’ offer of £25m in a final attempt to land their man, who they saw as the ideal strike partner for Harry Kane, but talkSPORT has been told that is not the case.Instead, talkSPORT understands Spurs were offering a total of £22.5m in a deal including payment instalments and performance related targets, and were prepared to pay the Baggies just £6m as a down payment.West Brom were clearly unhappy with Tottenham’s attempts to prise away one of their star assets, with club owner Jeremy Peace publicly shaming their ‘antics’ to land Berahino in a cut-price deal.“We have a key player who has been very unsettled by antics which were designed to get him out of our club cheaply,” Peace said in a statement released shortly after the 6pm deadline on Tuesday.“Those tactics have continued despite me making our position clear in my first conversation with Daniel Levy on this subject in mid-August. “I said selling Saido so late in the window was not on our agenda.“Tottenham’s offers failed substantially to reflect Saido’s true value while the timing made no allowance for our own recruitment of a suitable replacement for a proven Premier League goalscorer.“Saido has been unsettled to the point where our Head Coach has not felt able to select him for our last three games.“We are now left with the task of repairing the damage created by this unfortunate episode.”In the wake of the transfer window furore surrounding him, Berahino has been given extra time off and is not expected back for training until Monday, September 9. West Brom starlet Saido Berahino 1last_img read more

Court list is who’s who

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORE‘Mame,’ ‘Hello, Dolly!’ composer Jerry Herman dies at 88 LAPD Chief William Bratton is set to testify Thursday, with two former police chiefs, Councilman Bernard Parks and Daryl F. Gates, also to be called. Yagman, who has long battled city officials on LAPD issues with a style that combines legal creativity and confrontational tactics, delights in ushering the witnesses into the chambers, chatting with some of them on the way. “We’ve all come to accept each other,” he said. U.S. District Court Judge Consuelo B. Marshall opened the door for Yagman by granting him the right to subpoena the officials as part of his case on behalf of Gina Nicoletti, who was singing at the Classroom Bar in Northridge when it was held up Feb. 25, 1997. A former North Hollywood resident now living in Chicago, Nicoletti claims her right to due process was violated when SIS officers waited outside the Northridge bar while it was robbed and a suspect put a gun to her head. She was so terrified, she said, that she can’t sing anymore and has mostly been on disability since the robbery. “I’ve been waiting nine years for answers,” Nicoletti, 49, said. “These robbers had no regard for human life, but I felt the SIS was just as responsible. Where was their regard for human life?” Instead of hearing only Nicoletti’s claim of due-process violations, which the city denies, the judge has allowed the plaintiff to bring a claim that the violation resulted from city policy. “It’s a power play,” Deputy City Attorney Cory M. Brente contended, saying the public officials all acted in good faith and within the law in discharging their duties. “He gets the power of subpoena: … ‘I have the ability to make you come to court and I will.”‘ In his case seeking unspecified damages, Yagman said he’s pursuing a theory that officials were deliberately indifferent to citizens’ constitutional rights in allowing SIS to employ tactics that jeopardized innocent people. He also said council members regularly indemnified police against punitive damages, so they had “no fear” in regard to their actions. “I am showing a body of information that was virtually known to all officials, … and in the face of that they ignored it. There was all this stuff out here, and they did nothing.” Nearly 40 years old, the SIS was formed to track down the city’s most dangerous, violent and repeat criminals. Its critics charge that officers put civilians at risk in order to arrest suspects after they commit a serious crime. Dozens of suspects have been killed, and many others have been wounded. A bystander in the Classroom Bar case was wounded by police gunfire, settling with the city for $975,000 in 2001. For many of the witnesses, the trial that began Thursday has turned into a reluctant homecoming of sorts: a chance to catch up on careers, families and hobbies. Alatorre and Yaroslavsky spent time in a witness room, comparing notes on University of California, Los Angeles, athletics. State Sen. Richard Alarcon, who served on the council in 1993-98, had to fly in from Sacramento. “It’s one responsibility of the position,” he said of his cameo, lasting just a few minutes. “I absolutely believe we were not indifferent. We reviewed every case, anything that had to do with city liability. Raymond C. Fisher, a judge in the 9th U.S. Circuit Court of Appeals, who normally would be reviewing the decisions of the court in which he was sitting, said he found it unusual to be speaking from the witness box. “It’s unusual for anyone,” he added. Fisher, president of the Police Commission in 1995-97, was asked whether he believed police were violating people’s constitutional rights. He responded that cases were dealt with individually and that he was unaware of any LAPD “custom” to violate those rights. Art Mattox, a commissioner in 1993-97, nervously waited in the witness room, anxious to get back to The Midnight Mission, where he is now chief operations officer and where hundreds of indigent people were waiting for lunch. “Part of the obligation of public service is to expect this to occasionally happen,” he said as he chatted with Reva Tooley, executive director of the Sun Valley Writers Conference in Idaho, who was a police commissioner in 1979-84 and 1988-91. Tooley was instrumental in a report done on SIS, which Yagman said resulted in a change in the unit’s policy in 1992 to make “reverence for human life (the) primary consideration in developing tactics and strategies” – a policy then extended departmentwide. Edith Perez, a lawyer who was president of the commission in 1997-99, said commissioners paid appropriate attention to SIS. “It’s completely erroneous to say the city leadership was indifferent; quite the contrary,” Perez said. “It took a long time to analyze (SIS cases), sometimes three or more meetings to analyze and deliberate. Those were the cases you looked at very carefully and thoroughly.” Beth Barrett, (818) 713-3731 beth.barrett@dailynews.com 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! A prominent attorney has successfully subpoenaed dozens of current and former Los Angeles politicians and police officials into federal court, where he has grilled them over accusations of “deliberate indifference” to possible civil-rights violations by the LAPD’s elite Special Investigation Section. The case specifically involves a woman who claims she was traumatized because SIS detectives waited outside a Northridge bar while robbers held it up. But civil-rights attorney Stephen Yagman has broadened the case to put nearly 60 officials on the witness stand to defend their oversight roles. SIS officers frequently have employed such tactics and in this case killed three suspects after they left the bar. Some call the trial a circus. City Attorney’s Office lawyers say Yagman is showboating by calling officials who served as long ago as 1979. But for many officials waiting in the witness room, it’s something of a reunion, although reactions have varied from irritation to bemusement. Among those called are former Mayor James Hahn, who was questioned at length Friday, and a long list of former City Council members that includes county Supervisors Gloria Molina and Zev Yaroslavsky, City Controller Laura Chick, Assemblyman Mark Ridley-Thomas, Ruth Galanter, Mike Hernandez, Nate Holden, Richard Alatorre, Hal Bernson, Mike Feuer, Rudy Svornich Jr., Rita Walters and Michael Woo. last_img read more

WATCH: Zlatan Ibrahimovic’s top 10 best ever goals

first_imgZlatan Ibrahimovic is one of the best football players of all time, and he has scored some of the greatest goals of all time.So feast your eyes on the video above to truly appreciate just how talented the Swede is, the day after his 35th birthday.There will be some familiar strikes to see, including a certain bicycle kick which is likely to bring all England fans out in cold sweats.Zlatan came, saw, and conquered – and has left a lasting legacy.Watch the video above…last_img