St Lucians to get VAT

CASTRIES, St Lucia, Monday July 16, 2012 – St Lucians will be joining their peers in Antigua and Barbuda, Dominica and Grenada in paying 15 per cent in Value Added Tax (VAT) before this year is out.

That is because the St Lucia Senate has passed the VAT Act, and everything looks on course for the revised October 1 implementation date.

St Lucia will now become the last independent member state in the Caribbean Community (CARICOM) to introduce the indirect tax regime that will replace a current slate of taxes and duties. While VAT on goods and services are to be levied at 15 per cent, it will be at eight per cent for the hotel sector.

In the rest of CARICOM, Barbados levies 17.5 per cent VAT; St. Kitts and Nevis, 17 per cent; Haiti’s rate is 10 per cent, Suriname’s dual tax rate of 10 per cent on goods and eight per cent on services, is just ahead of Belize at 12.5 per cent. Montserrat has no VAT system.

According to the Caribbean Media Corporation, during last week’s parliamentary debate there were calls from two independent senators – a doctor and a hotelier – for a further delay in VAT, and government Senator Debra Tobierre, a business owner in the south, admitted that all of her questions on the indirect tax were yet to be answered.

But she supported the bill while at the same time making a call for more public information during the transition to the tax.

The independent senators, Dr Stephen King and Berthia Parle, said they would have preferred to see a delay in the full implementation of VAT to give businesses more time to prepare.

Dr King, a former chief medical officer, suggested a “testing period” of up to three months and a “forgiving period” of at least one month “before going live”.

But he argued for the use of VAT revenue to avert “a major crisis” in the country’s health services and to encourage better nutrition among St Lucians.

He said that operation of the new hospital to be completed by year end and a reconstructed St. Judes Hospital in the south would require an additional 50 million EC dollars (18.5 million US dollars).

Senator Parle, a veteran hotel executive, acknowledged that no member of the formal business community was opposed to the VAT.

“We understand the imposition of VAT but there are serious concerns,” she said.

Leader of Government Business and Minister of Home Affairs Senator Phillip La Corbiniere presented the bill from the lower house with the admission that VAT in any country would lead to both price rises and cuts for consumers.

But he informed members that most food items had been placed in a “VAT-exempt food basket.”

In response to concerns about the fate of prescription medicines in the VAT legislation, Senator La Corbiniere said Castries had applied to the CARICOM Secretariat for the removal of all import duties on medicines.

The minister said his eight-month-old administration came to office facing “a very challenging economic period which made it even more difficult to raise revenue which is going to be needed to sustain employment and support economic growth.”

He said it is with that kind of challenge in mind that government has had to face the “inevitable implementation” of the Value Added Tax.

That prompted opposition senator and former agriculture minister Ezekiel Joseph to claim that the governing St. Lucia Labour Party had changed its position on VAT, claiming that Prime Minister Kenny Anthony once referred to it “as an oppressive tax” which his party never considered it as the wisest choice for St. Lucia

SOURCE: http://www.caribbean360.com/index.php/news/st_lucia_news/596481.html#ixzz20q4R8fGk

YOU CAN'T MANUFACTURE PRESENCE

Ian Chappell

Ian Chappell

July 15, 2012

The Australian coach Mickey Arthur had a few choice words for his team after they fell behind 3-0 to England in their recent ODI series. The question is, were they well-chosen words?

Arthur called for his batsmen to establish a "presence" at the crease. Presence on a cricket field is like respect - it's earned. It's not something that suddenly materialises at the behest of a coach.

Brian Lara, Sachin Tendulkar and Ricky Ponting all established a presence in the middle via their deeds with the bat. The opposition feared them because all three could make a big score quickly. Players who do that can change the course of a game in one session of bold strokeplay.

Viv Richards used to saunter to the crease masticating a stick of gum and delivering the occasional hefty thump to the end of his rubber handle grip. However, it wasn't the aggressive mannerisms that worried the opposition. The devastation he might cause with the bat was the major concern.

If George Bailey or Peter Forrest suddenly start swaggering to the crease whistling "Advance Australia Fair", the opposition will probably rub their hands with glee and proceed to go about their business with renewed vigour. Coming from Bailey or Forrest, it would be obvious false bravado and the opposition would know as much. While the two think about how they should act, they won't be fully focused on their batting.

There's no shortcut to establishing a presence on the field - it can only be earned by weight and class of performance.

At around the same time that Arthur was reading the riot act to his team in the UK, the former Indian run machine Rahul Dravid was carefully choosing his words during an interview. Among his answers was the admission: "There were times when I thought too much about technique."

Maybe so, but that was Dravid. His belief in himself derived from the fact that he didn't feel bowlers could break down his impenetrable barrier. Dravid had a presence in the middle because the opposition knew they would have to work awfully hard to dismiss him, and that meant less energy to expend on the dangerous strokemakers around him. Aggression isn't the only weapon in the fight to establish a "presence" in the middle.

While he was at it, Arthur exhorted the Australian team to display more "mongrel" in the final match at Old Trafford. Nothing changed, as Australia responded with another lacklustre performance. Once again, was it the right choice of word? The word "mongrel" can easily be misconstrued as a need to display overt aggression.

A couple of seasons ago when Mitchell Johnson was told to be more aggressive, he started goading opposition batsmen. This clearly wasn't the "real" Johnson, and many batsmen looked bemused rather than bothered when he commenced a tirade.

The two best opposition fast bowlers I faced were John Snow of England and Andy Roberts of West Indies. I played a lot of innings against both and never once did any words pass between us. Mind you, I was never in any doubt both were annoyed by my presence in the middle and were hell-bent on bringing an abrupt end to it. The bowling of both Snow and Roberts spoke volumes. They didn't need a soliloquy to get their message across.

Australia are currently struggling because two of their batsmen who maintain a presence are nearing the age of retirement. Despite his skills being eroded by age, Ponting is still a dangerous player, as he showed last summer against India. He can still make a big score; he just doesn't do it as often or in such dominating fashion.

Michael Hussey makes his presence felt on arrival at the crease. He hustles runs via sharp singles and shrewdly judged sprints, and then once his confidence is up he produces exquisite cover drives and strong-arm pull shots. Hussey is a more aggressive left-hand version of Dravid - he sells his wicket at well above market rate.

Australia can win with their strong pace attack. However, they won't win as often as they would like to unless they can unearth some young batsmen whose presence in the middle is a long and fruitful one.

SOURCE:

http://www.espncricinfo.com/magazine/content/story/572398.html?CMP=chrome

VAT continues to be a big earner for Barbados government

BRIDGETOWN, Barbados, Thursday July 12, 2012 – While other Caribbean countries grapple with internal conflicts over whether or not to implement Value Added Tax (VAT) regimes, the Barbados government reaped almost a billion Barbados dollars in VAT receipts last year.

According to the economic review of the first six months of 2012 released by the Central Bank of Barbados on Monday, provisional estimates for the 2011-2012 fiscal year are that VAT brought in BDS$949.6 million dollars into the Treasury. On a whole, VAT contributed BDS$764.8 million of the BDS$1.2 billion in indirect taxes taken in by government last year.

And, despite the still precarious economic status of the island, it appears on track to add even more revenue to government’s coffers this year as the central bank is reporting that an estimated BDS$243.9 million in VAT receipts has been taken in up to June this year versus BDS$227.8 million over the same period in 2011.

In fact, VAT receipts have been credited for giving the entire government revenue a much needed bump.

“Government’s total revenue is projected to have improved by 3.4 percent, compared to the same period last year, primarily owing to a 7 percent increase in VAT receipts. On the other hand, personal tax collections were down by 5 percent, while corporate tax receipts fell by 4 percent. Expenditure on interest payments grew by 5 percent and pensions and other transfers to individuals and to public corporations rose by 20 percent and 12 percent, respectively,” stated the central bank report.

This gain in VAT revenues prompted the Barbados government to retain its 2.5% increase on the VAT rate implemented almost two years ago until further notice according to Minister of Finance Christopher Sinckler in his recent national budget presentation.

However, the Barbados economic picture is not looking as rosy on all fronts.

The economic review reported that real growth in the first half of this year was estimated at only 0.6 percent.

Also, Barbados foreign exchange reserves at the end of June stood at $1,357 million, marking a decline of $63 million since December 2011.

The central bank attributed this to the fact that the international recession has slowed the inflows of foreign exchange to Barbados, and has therefore limited the prospects for growth in an economy which needs foreign exchange in order to register sustainable growth.

Output in the tourism sector is estimated to have risen 1.8 percent in the first half of the year. The largest increase came from the CARICOM area, particularly Trinidad and Tobago, where arrivals grew by 35 percent, according to the report.

The once booming construction industry appears to be staging a moderate revival, growing by a reported 1.3 percent due to private commercial building activity, the continuation of tourism-related projects, and public sector capital projects.

The number of active companies in the international business and financial services sector increased by 3 percent, stated the report.

Inflation appears to have decelerated slightly, with the projected 12-month average rate to June at about 8.6 percent, compared to 9.5 percent in December. Inflation in the prices of food and fuel appears to have abated, since the last quarter of 2011.

Unemployment continued to inch up as, in addition to the job loss in tourism, there was also some retrenchment in the manufacturing sector and non-sugar agriculture, resulting in an unemployment rate estimated at 11.8 percent at the end of March 2012, compared with an average of 11.2 percent for all of 2011.

The fiscal deficit was estimated at 5.1 percent of GDP for the first three months of the 2012/13 fiscal year. All of Government’s deficit financing was sourced from the domestic market. The deficit was financed to the extent of 75 percent by commercial banks, 48 percent by the National Insurance Scheme (NIS) and 54 percent by private non-bank entities, stated the report.

There were no foreign public inflows during the review period and payments on external loans reduced government indebtedness by $33 million. Gross government debt as a percentage of GDP was 77 percent, down from 79 percent at the end of 2011, while net government debt was 57 percent of GDP. External debt service accounted for less than 7 percent of current account earnings, revealed the central bank.

Evaluating the island’s economic prospects, the central bank acknowledged that the global environment continues to constrain prospects for a vigorous economic recovery, as the poor economic performances of the UK and the USA continue to depress the demand for Barbados’ tourism services.

However, it projected that modest gains are expected from the gradual improvement in length-of-stay. Private investments in tourism-related projects and corporate building activity are anticipated to further expand construction output for the remainder of 2012. However, foreign exchange sectors are not projected to grow significantly in 2012.

Limited expansion is therefore likely in the non-tradable sectors. Overall growth is forecasted to be in the region of one percent in 2012. No significant employment gains are expected, stated the monetary authority.

Source: http://www.caribbean360.com/index.php/business/595646.html#axzz20at5OnCs

BOLT WITHDRAWS FROM FINAL TUNEUP BEFORE OLYMPICS

LONDON, England, Wednesday July 11, 2012 – One month before the 100-meter final at the London Olympics, Usain Bolt has pulled out of the July 20 Monaco Diamond League meet with "a slight problem" that occurred during the recent Jamaican Olympic trials, his coach Glen Mills said.

The injured sprinter’s withdrawal followed the double blow of losing in the 100 and 200 to training partner Yohan Blake at the trials. His absence from the Monaco meet, which was to have been his final tuneup before the games, leaves him facing the Olympics in the wake of two consecutive losses.

Despite the withdrawal, the 25-year-old sprint sensation insisted he'll be at the games to retain the 100, 200 and 4x100 relay titles he won in Beijing four years ago in world-record times.

"I am happy to have earned my spot on the Jamaican Olympic team despite the challenge," Bolt said in a statement. "I will be in London to defend my titles."

After congratulating his victorious training partner Blake following the 200 in Kingston, Bolt lay flat on his back and had his right hamstring stretched out by a trainer. His loss two days earlier in the 100 came after a poor start.

According to coach Mills: "After careful assessment I have had to withdraw him from the Samsung Diamond League Meeting in Monaco on July 20 to give him sufficient time for treatment and time to train and prepare for the Olympic Games in London."

The coach confirmed that the injury was from Bolt’s participation at the National Trials, but did not elaborate on the nature of the problem.

Having built a reputation for being unbeatable in the 100 and 200 over the past four years and powering to Olympic and back-to-back world titles in the sprint events, Bolt lost twice in three days to Blake in Kingston. He nevertheless remains confident.

"I can never be discouraged," Bolt insisted. "I'm never worried until my coach gets worried, and my coach isn't worried, so I'm OK."

Despite the recent setbacks, current and former athletes believe Bolt will be back at his best for the games.

"I found Usain to be a bit labored (at the trials)," American challenger and former 100 world champion Tyson Gay said. "He gave the impression that he was forcing it, which is unlike him. However, these two races don't change things as regards to the London Games.

"Yohan may give the impression today that he's a bit of a cut above the rest ... Usain still has a month to get back into shape. He's a major championships man."

Former 200 and 400 Olympic champion Michael Johnson said Bolt was still his pick for gold. The American said Bolt was capable of lowering his 100 world record of 9.58 seconds to 9.4.

"I think Usain can do whatever he wants to do," Johnson said on the website of the Laureus sports academy. "He's got that type of talent and he wants to win three gold medals again.

"If he gets to the starting line healthy, at his best, everyone else at their best, he wins every time. I mean he's just that good."

SOURCE: http://www.caribbean360.com/index.php/news/595366.html#ixzz20OsJD8m1

ANTI-OBESITY VACCINE SHOT OFFERS FALSE PROMISE OF STAYING SLIM EVEN ON A JUNK FOOD DIET

Tuesday, July 10, 2012 by: D Holt

(NaturalNews) New vaccinations against obesity that could allow obese patients to eat as much junk food as they like and still lose weight are in development. As reported in the Journal Of Animal Science and Biotechnology, a research team led by Dr. Keith Haffer, of US firm Braasch Biotech, and Mariana Monteiro from the University of Porto in Portugal have both developed new shots which could revolutionize the treatment of obese people.

One shot works by tricking the immune system into creating antibodies against the hormone, ghrelin, which is produced in the gut and increases appetite. The other works in a similar way, creating antibodies against a hormone called somatostatin. This hormone is created by the brain and digestive system and causes the metabolism to slow by interacting with other hormones. By creating antibodies against this hormone the metabolism speeds up, allowing the patient to eat more calories and still lose weight. It was reported that levels of other hormones remain unchanged for both treatments.

The somatostatin treatment is only in the early stages of development, but tests on mice showed a 10 percent reduction in weight after just one shot. A further "booster" shot after three weeks helped to keep their weight in check. Dr. Haffer said "this study demonstrates the possibility of treating obesity with vaccination. Although further studies are necessary to discover the long-term implications of these vaccines, treatment of human obesity with vaccination could provide physicians with a drug and a surgery-free option against the weight epidemic."

The "miracle cure" is just a band-aid solution

In the UK there are several over-the-counter weight loss drugs, but only one prescription strength drug available. Xenical prevents the absorption of fats by the body but has unpleasant side effects such as stomach cramps and loose bowel control, in short it can act as an aggressive laxative.

The news of a "miracle cure" on the horizon will no doubt be welcomed by obesity doctors and patients alike. However, the idea that people with eating disorders, who consume large amounts of junk will be able to do so and keep slim, sounds too good to be true. The effects of the excessive calories may be taken away by this drug, but it does not take away the effects of the food additives, the high levels of fat in the blood stream leading to narrowed arteries or the emotional issues that have led to overeating in the first place. Losing 10 percent of body weight will prevent, or delay, some deaths of obese people but in the end, the food addiction will still kill them.

The drug may allow people to eat large amounts of factory processed "food," but they will then be dependent on the drug that keeps them slim. The food industry will sell more food, and Big Pharma will keep you slim on the outside but with the arteries of an obese person. It must be big business, because they have researched this for over 15 years, spending billions.

The only way to be healthy, the correct weight, and prevent the effects of the modern western diet is to steer clear of processed foods, eat a diet high in fresh produce and to exercise. To treat obesity, the reason for overeating needs to be addressed before the patient can be made well. Offering weight loss drugs to obese people is treating a symptom of obesity, not dealing with the cause.

D Holt is currently involved in research in the UK into the mechanisms involved in healing due to meditation, hypnosis and other ''spiritual'' healers and techniques. Previous work has included investigations into effects of meditation on addiction, the effects of sulfites on the digestive system and the use of tartrazine and other additives in the restaurant industry.

SOURCE: http://www.naturalnews.com/036423_obesity_vaccine_junk_food.html#ixzz20JEhUsxO

CARIBBEAN CAUGHT UP IN TAIWAN VS CHINA POLITICAL TUG-OF-WAR

GEORGETOWN, Guyana, Monday July 9, 2012 – Grenada’s protracted dispute with Taiwan over a US$30 million debt is a lesson for small island nations caught in the middle of a tug-of-war by developed nations to win hearts and minds in the region and access minerals and other natural resources.

So says Wazir Mohamed, a Caribbean-born assistant professor of sociology at the University of Indiana, East, in a recent interview with Inter Press Service (IPS).

"There are a lot of implications for small states being caught in a new type of cold War in the world today," he told IPS. "Nothing has changed in the way capital is being used by the West and nations like China. It is a new form of colonialism, but the only thing different to the past is that this new form is now being implemented and effected much more rapidly than in the past using capital that is very, very mobile.

"Caribbean nations have to be careful about being caught in the middle of these geopolitical fights involving other nations," said Mohamed.

For other nations like St Lucia, the issue is of prime importance and one to monitor very closely as it could also face similar problems. The last government in 2007 had ironically kicked out China and replaced it with Taiwan, pending the decision of another administration in the late 1990s.

China has so far not retaliated by demanding back its money, notably funding for a new sports stadium, hospital and buildings in St. Lucia's industrial zone, but has condemned local officials outright for its diplomatic expulsion.

"We have been very careful about making this decision, and now that we have taken it, we do not expect the Chinese will love us any more for it," said then Foreign Minister Rufus George Bousquet. "But we expect that they will conduct themselves in a manner that is acceptable to our government."

Bousquet's government has since lost power. The new administration of Prime Minister Kenny Anthony has already spoken to both sides, but for now is playing it safe and has remained loyal to Taiwan even though it had chosen China in a previous period in office. Bousquet had also said the policy back then was to deal with which donor was willing to give more.

Once Taiwan departed Grenada, China moved in to win hearts, funding a national sports stadium and donating generously to reconstruction efforts in the aftermath of Hurricane Ivan, which devastated the island in September 2004.

Other Caribbean trade bloc nations that recognise Taiwan over China include Haiti, St. Kitts, St. Vincent, Belize and now St. Lucia, even though the official policy of the bloc is for a "one China Policy".

For now it appears that mainland China is winning. Last September, many regional leaders travelled to Trinidad for the China-Caricom forum where the delegation from Beijing offered up to US$1 billion dollars in soft loans to fund projects throughout the region.

Some states, like Caribbean Community headquarters Guyana, signed on quickly by proposing various projects for funding, but Taiwan does not have that luxury as its diplomatic and aid outreach is confined only to those with which it has formal diplomatic relations.

SOURCE: http://www.caribbean360.com/index.php/news/guyana_news/594906.html#ixzz20D9U9JQT