Dear Editor,
Recently, in my neck of the woods, Christiana, I saw where two businesses owned and operated by Jamaicans have been sold out to Chinese who will continue operating them or try something else with the space.
This has been the pattern for the past two or three years, where seven of the nine supermarkets in this town are now owned and operated by Chinese immigrants.
Personally, I don't have a problem with this development, but I have a few concerns and questions to ask.
I have often heard it said that the Chinese operate tax-free for five years in this country. My question is why? We need to have a system in place so ensure a level playing field for all people who wish to invest their money and operate businesses in this country.
It can be argued that this is an incentive to encourage overseas investors to invest in Jamaica. Is this only extended to the Chinese? Such a policy is only meaningful if we as a country can gain significant benefit from it.
Whenever the Chinese take over any businesses they seem, in my view, to employ less people than were employed by the previous owners. Is it that they are smarter than we are that they find a way to cut expenses right from the start?
I am also concerned that we are not checking on the statutory deductions of the persons employed to them. Do we ensure that these deductions are paid over to the government so the country can benefit from this form of taxation.
I am also concerned about where they send their profits. Do they keep profits for re-investment in Jamaica or do they send them back to their own country. The main concern is if their doing business here help us in Jamaica or is it to the benefit of China more.
In the final analysis, I believe that a five-year tax-free incentive is too great a price to pay for the little return we get from them being here. I am proposing that this policy be reviewed immediately with a view to levelling the playing field so that our Jamaican business people can at the least compete.
Gary Rowe
Christiana, Manchester
magnett0072004@yahoo.com
Revisit Chinese no-tax policy
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Recently, in my neck of the woods, Christiana, I saw where two businesses owned and operated by Jamaicans have been sold out to Chinese who will continue operating them or try something else with the space.
This has been the pattern for the past two or three years, where seven of the nine supermarkets in this town are now owned and operated by Chinese immigrants.
Personally, I don't have a problem with this development, but I have a few concerns and questions to ask.
I have often heard it said that the Chinese operate tax-free for five years in this country. My question is why? We need to have a system in place so ensure a level playing field for all people who wish to invest their money and operate businesses in this country.
It can be argued that this is an incentive to encourage overseas investors to invest in Jamaica. Is this only extended to the Chinese? Such a policy is only meaningful if we as a country can gain significant benefit from it.
Whenever the Chinese take over any businesses they seem, in my view, to employ less people than were employed by the previous owners. Is it that they are smarter than we are that they find a way to cut expenses right from the start?
I am also concerned that we are not checking on the statutory deductions of the persons employed to them. Do we ensure that these deductions are paid over to the government so the country can benefit from this form of taxation.
I am also concerned about where they send their profits. Do they keep profits for re-investment in Jamaica or do they send them back to their own country. The main concern is if their doing business here help us in Jamaica or is it to the benefit of China more.
In the final analysis, I believe that a five-year tax-free incentive is too great a price to pay for the little return we get from them being here. I am proposing that this policy be reviewed immediately with a view to levelling the playing field so that our Jamaican business people can at the least compete.
Gary Rowe
Christiana, Manchester
magnett0072004@yahoo.com
Revisit Chinese no-tax policy
-->