Target 'high-end' people with 7% bank transfer fee - Skelton-Cline
'I agree with the government, we cannot simply be in the business of exporting money without a cost and though we've gotten one segment, there's a whole other segment of person who sends money out this country, through the banks," he said on the Monday, April 27, 2020, edition of his radio show on ZBVI 780 AM.
Outcry over 7% fee & closure of transfer services
Premier Fahie during the Seventh Sitting of the Second Session of the Fourth House of Assembly on April 17, 2020, said he stands by a new 7% fee on money transfers through MoneyGram and Western Union and expects ‘fireworks’ over the decision.
The Premier said the collected revenues will go towards local initiatives.
On April 29, 2020, the Premier told Virgin Islands News Online (VINO) that money transfer services will not re-open until the local economy is rebooted coming out of the COVID-19 24/7 lockdown.
At the HoA sitting, Hon Fahie said in 2019 close to $89M left the Territory and in 2018 the figure was $88M and the government received $0.
He said that during 2017, in the midst of the Hurricane Irma devastation, approximately $57-58M left the Territory but now, the fee will ensure that some of that exported cash is recaptured.
'High-end' people flouting system - Skelton-Cline
However, Skelton-Cline said other sectors need to be targeted too, "There are people in this country who get paid, they work here, they live here and they get paid on accounts where that money goes off somewhere else, and often times they are the high-end persons. We don't ever hear about them, we don't see them," he said.
"Especially in times like these, we cannot afford to be sending $90 million a year out no country, we can't afford it, on top of that, especially in times like these."
He said for these individuals, their real salaries are allegedly not recorded at the Labour Department and their monies head back to their respective counties.
"When you live in a country with 121 nationalities, and you import people, these imported people are exporting the money made here and if that money is not circulated 6-7 times in your country, it is of no use to you," Mr Skelton-Cline reasoned.
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88 Responses to “Target 'high-end' people with 7% bank transfer fee - Skelton-Cline”
Now u sounding Good... One of the First businesses the OECS government reach out to for opening up are western union and money gram...People in Americs, England and Canada were complaining that they sent money to help their families and they not getting it... and the Government listen.
You might try taking a trip to the Real World and get a glimpse of how it functions.
feels it in this territory; from here or from another island. The powers to be do not have big enough testicles to touch Mr or Mrs White: lets see how the bloggers will go, because when cline’s topics questions the Governor, Claude is Tar and feathered::: Claude is now asking the local premier questions(and there off....
where I understand what this ***** is saying this would mean nobody would be able to purchase anything that requires a bank transfer, say a company needs to transfer $100,000.00 to buy new equipment he is saying they should also pay $7000.00 to the government as we all as the bank charge, the import fee of say 21% thats before the cost of shipping the stuff here.
Where we are not is updeislun. But if we are we are proud to be referred to asTolians,BVislanders and we not begging or shedding tears to come home.
Their mission is a constant scheming and taking and they still remain empty handed, without a house,without a country, witout pride.
I’m tired of hearing them people say we is one we need come together we are not one people for the VI ain’t nothing like you wicked *******. Ayo from the ***** like obeh
One on hand you all don't want their spouses and children in the BVI with their expat (to include what you all call island people) family member, yet you want to prevent them from sending money back home to support their family or have a nest egg when you all make them leave the BVI. What kind of people are you all and you birth you all? Lucifer? Now you have a so called minister and an unelected politician enouraging it. Any one from down the island reading this comment, write a check or get an amerian express money order and sent you money whereever you want to.
I am a local and I really don't agree with the condescending tones. However, I can understand why locals might be a bit uncomfortable. In addition, our expat population is quite vocal and many do not have the VI at heart-it's just a pay check. Some locals are unkind and the same can be said for expats.
By the way, did you not help in exchange for money. Weren' your hungry raggedy fam taken care of as a result.
You were employed by us and paid so no good will on your part ...just hustlin for the almighty dollar.
Why such covetousness of the VI.
Trustme,there are others non upde uslun folks that are wanting to be here so feel free to vacate, Mortgage will be paid,,Leave tomorrow, I have potential tenants waiting even with a rent increase. Your tail out the door, fumigation complete, ,new occupancy pronto.
What is this guy talking about? The earnings of anyone that has paid their taxes is to do WHATEVER THEY WANT WITH IT!!!!!! What is he talking about? Once people are paying their share of mandated govt taxes you cannot tell them what they can do with their money. You are going to target bank transfers? I think people need to research topics before trumpeting nonsense because you will be opening a can of worms trying to lump bank transfers with money service issues.
A lot of you on here talking about you in better class than Island People and you would not live down Island Because you are not that Low. You all need to stop because a lot of you dont know anything about these Islands or even ever visited. We are living much better in our country than how you Tolans living here. In our countries we are not drinking Washing up and brush teeth with stinking shit recycled water that u all cant even get right. We are inhaling stinking shit day in and out running in the streets daily mixng up with the broken pipes mains in the road. Island people water in the pipe can drink and it would not get u sick. The BVI does not even look like a country that spends us currency.eveything look dilapidated like ghetto especially from East End to Road Town but u want to discriminate against other caribbean nationals.
All of you want to own GOD's land and call it yours. Be careful. The bible states the earth is the Lord's and the fullness there of and they that dwell therein. Be careful BVI Islanders !. No wonder God gave to allow diseases like these in the earth because pple like you all cant change so he has to bring something to linger so a lot of you can repent and be reminded daily that he is in control and not Man.
No FSN and social services.and legal aid,education.. They do not detract but enhance the positive qualities of the VI and its people.zThey frequent our quality restaurants and support homeowners of upscale rentals. They build quality and aesthetically looking homes. They contribute to the beauty and orderliness of the VI.They are not in the pool of stick em ups and disorderly law breaking scooters.y aThey are what makes the VI greate,assets as oppose to the surplus of those who are liabilities.
Government measures that create inflation is not a thing we need right now.
If the government decided to do this, a return application rule must be made- kind of like the temporary duty exemption applications after Irma. We would need a department that returns tax money for bank transfers made to purchase goods to be imported and taxed via duty. Of course, documentation would be required and the department must be set up to review documentation and return moneys to merchants and importers in a timely manner because holding on to people's money during a crisis like this is a bad idea and shortfalls can only be passed on to the public.
But then, is the government going to tax transfers from all banks? Offshore banks? How would this work? Think of the legalities and logistics here....this might not be possible.
It,s not groceries that is being taxed folks,not yet, VI must survive and tax,like elsewhere is the one tru method, God Bless these Virgin Islands.
Is it the financial services portion of the economy decamping for any other jurisdiction?
PAY FOR WORK PERMIT
PAY TAX ON WAGES
PAY INSURANCE
PAY FOR ACCOMMODATION
PAY FOR FOOD
PAY FOR WATER
PAY FOR ELECTRIC
ALL FROM WHAT YOU EARN SO THAT IS MONEY DIRECTLY BACK INTO THE LOCAL ECONOMY WHICH HELPS EMPLOY PEOPLE TO PAY THEIR TAXES AND EVERYTHING ELSE AS WELL.
SO WHAT LITTLE I HAVE LEFT AFTER SPENDING FOR EVERYTHING ABOVE IS MINE.
SO I WANT TO SEND SOME MONEY TO HELP SOMEONE AND I USE A MONEY TRANSFER SERVICE THEY CHARGE A FEE OF 2% FOR DOING THIS WHICH THEY GET TAXED ON BY EMPLOYING PEOPLE RENTING BUILDINGS AND OFFICES ETC.
YOU NOW WANT TO PUT ANOTHER 7% ADDITIONAL TAX ON THE AMOUNT ACTUALLY BEING SENT BECAUSE YOU THINK I DONT SPEND ENOUGH THERE ALLREADY?
YOU SAY $90MILLION A YEAR IS SENT OUT FROM WHERE DOES THIS FIGURE COME FROM AS ON CHECKING ACCOUNTS AND SPEAKING THATS THA ANNUAL THROUGHPUT OF MONEY THROUGH THE MONEY TRANSFER SYSTEM IN TOTAL SO FOR THAT IS MONEY OUT AND ALSO MONEY IN TO THE LOCAL ECONOMY.
I FEAR THAT AS USUAL EVERYONE HAS GRABBED THE WRONG CAT BY THE TAIL AGAIN WHILST SHOUTING THIS IS THE ANSWER TO THE PROBLEM WHEN IN FACT IT IS JUST A CASE OF FAKE FACTS TO JUSTIFY AN JUST EXTRA TAX.
NOW I AM CURRENTLY WORKING ON ANOTHER ISLAND IN A DIFFERENT OCEAN WITH THE SAME ISSUES THAT HAPPEN THERE BUT THE DIFFERENCE IS EVERYBODY HERE IS WORKING TOGETHER HELPING EVERYONE THAT CANT AND KEEPING THE MONEY TRANSFER COMPANIES OPEN SO FUNDS CAN BE RECEIVED BY THE PEOPLE THAT NEED IT AS THERE IS NO INCOME OR SICK PAY SUPPORT AS THERE IS NO WORK
SO ALL I ASK IS BE SENSIBLE ASK THE RIGHT QUESTIONS AND DO THE RIGHT THING LET US SUPPORT THOSE THAT WE LOVE BECAUSE WE CAN AND WE WANT TO.
AND THERE BUT FOR THE GRACE OF GOD GO US ALL