Tinkering with Taxation

 

It is often said those there only two certainties in life death and taxes, whether you believe that or not tax  often has an important place in most societies.

Wars have been fought over taxes; the American war of independence was sparked by the notion of no taxation without representation.

George Bush the elder was famous for his saying read my lips no new taxes…. he said it at a Republican convention when he was a presidential candidate

In 1999 the Jamaican government raised the tax on gasoline.

Result, three days of rioting and after which the government cut the tax on gasoline.

There may have been no new taxes in the budget that but persons knew that a raise in the tax on gas would mean higher prices for everyone.

In Jamaica there has long been talk of tax reform, and plans to widen the tax net.

The TRN or tax registration number was said to be a mechanism to bring more people into the tax system.

People need this number for a certain transactions. The idea to spread the tax burden beyond those who pay tax as they earn or pay traditional taxes.

In the entertainment industry there are many cautionary tales both from home and abroad of the danger of ignoring or paying little attention to tax matters, some have ended up in devastating debt and even in jail all due to the trouble with taxes.

In Jamaica the government this year has announced it will be adding tax to a range of goods that had been zero rated the idea behind it is that in these cases whilst the goods are a lower price it is those who are better off who benefit because they can afford to buy more of these goods and therefore save more…. It’s time to change that, says the government.t

As it tries to balance the budget by raising some taxes and reducing others. Let’s hope those making the decisions will steer clear of some of the strange taxes in force elsewhere, according to billshrink .com in an article outlining 13 weird taxes in Germany the cost of bribery is deductible, in Tennessee there is a tax on the illegal drugs, you are not supposed to have and in Europe there are said to be discussions on  a tax on cow flatulence something to do with concerns about  global warming.

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