Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppBahamas, June 6th 2017: One week after presenting its first Budget Communication to the people of The Bahamas, debate on its allocation and measures will commence on Wednesday in the House of Assembly.While it’s expected that line ministers will present their allocations and how they intend to spend in each area in the new fiscal year, many ears will be tuned in to hear how Government intends to reduce VAT and taxes in certain areas.So far measures outlined in reducing taxes include a .25 percent reduction in business license tax down from 1.5 percent. Hotels seeing turnovers exceeding US$400m, will now see their business license tax fall from 1.25 percent to one percent of turnover. Minister Turnquest added that excise duty on electric motorcycles will be reduced from 65 percent to 25 percent, as government looks to champion the new mode of affordable transport.The new government won the elections on the premise of repealing taxes implemented by the previous administration. However, during his budget presentation last week, DPM and Finance Minister, Peter Turnquest says his government was unable to remove all taxes as promised after finding what it describes as a “bare cupboard”, hinting that any tax reduction moves will have to be delayed.During the Speech from the throne, the government promised to repeal VAT on breadbasket items, all baby and children’s clothing, electricity, water, all health coverage and insurance, while creating tax free zones in Over-the-Hill communities.The debate on the Budget Communication 2017 2018 will commence tomorrow June 7th.#MagneticMediaNews#BahamasBudgetDebate20172018#BahamasGovernmentTaxRepealsOrTaxDelays Related Items:
Ever wondered what causes your shoelaces to loosen even when you tie them as firmly as possible? It is because while running, the force of a foot striking the ground stretches and then relaxes the knot, a study has showed. As the knot loosens, a second force caused by the swinging leg acts on the ends of the laces, like an invisible hand, which rapidly leads to a failure of the knot in as few as two strides after inertia acts on the laces.The findings, published in the journal Proceedings of the Royal Society, may help understand things like DNA that fail under dynamic forces, the researchers said. Also Read – Add new books to your shelf”When you talk about knotted structures, if you can start to understand the shoelace, then you can apply it to other things, like DNA or microstructures, that fail under dynamic forces,” said Christopher Daily-Diamond, graduate student at the University of California-Berkeley.Using a slow-motion camera and a series of experiments, the researchers assessed a pair of running shoes that were laced-up and were on a treadmill. They found that shoelace knot failure happens in a matter of seconds, triggered by a complex interaction of forces, as when running, the foot strikes the ground at seven times the force of gravity. Also Read – Over 2 hours screen time daily will make your kids impulsiveIn addition, the study showed that some laces might be better than others for tying knots, but the fundamental mechanics causing them to fail is the same.”The interesting thing about this mechanism is that your laces can be fine for a really long time, and it’s not until you get one little bit of motion to cause loosening that starts this avalanche effect leading to knot failure,” said Christine Gregg, graduate student at the University of California-Berkeley.