Regs posted allowing government to collect new fees
(CNS): Government fees for certain General Registry and Cayman Islands Monetary Authority (CIMA) services will come into effect in just over one week on 1 January 2025. With the rules relating to the newly passed legislation and the acts all assented to, the new fees that are expected to contribute millions to the public purse next year will come due. Officials said that in some cases, it has been more than ten years since the fees were increased to cover the cost of regulating the offshore sector.
While certain fees are new, others were validated or raised. Industry feedback was sought on the revenue proposals, and parliament voted for them on 9 December. All of the amended legislation, including the relevant regulations, has now been published in the government gazette and online here.
- Fascinated
- Happy
- Sad
- Angry
- Bored
- Afraid
Category: Government Finance, Politics
……We do not have a REVENUE PROBLEM we have a (drunken sailor with a found on the street, unlimited credit card) EXPENDITURE PROBLEM……….
We have too much REVENUE, which allows them to do silly things, and enrich themselves.
Should double the Drivers licenses. the vehicle licenses and insoection fees. It been the same for over 20 years. Also should add on 5 % stamp duties on expats buying/selling land/ houses/ business etc. make it 12,5 % one time stamp duties for expats. That won’t hurt them or stop them from buying. The reality people is making 10 % profit when they selling other people land.
“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims …. but accomplices” – George Orwell.
Voters, remember this at the next election.
Dear Caymanian voters, you clearly have a death wish for your children and grandchildren, because you keep electing people who are utter garbage, knuckle-draggers and insanely corrupt. You are clearly spending wildly beyond your means every year, and bleeding expats dry for money.
However, as a personal favor, might I ask that you try to moderate the corruption and incompetence for just the next two electoral cycles?
In 2033, I retire. I don’t care if, at that point, the entire financial services sector decides that it’s sick of you parasites, and moves to e.g. Dubai or Singapore. This seems to be almost inevitable, just like other Caribbean islands eventually bled foreigners dry, and then promptly became de facto bankrupt. But would you please wait until I retire? Many thanks!
foundation work for Brac 120 million dollar high school started.
Bad when our $$$ are spent frivolously, WORSE when it’s being WASTED!!!
This Government literally stealing our money!!
If the Government can collect any new fee or increased fee I am willing to bet Juliana can find ways to spend it on Cayman Brac (that is on everything except the main road which Water Authority has literally torn up, jokingly patched and left heavy equipment track marks all about the roadway).
Watering Place Gardens needs the money for the yet finished pond. And it is needed for the new boat launch, park across the street from her church.
I fear we are shooting the golden goose, and once killed, that goose will lay no more.
….the failed, third-world “accountants” at CIMA are doing as much damage…no real knowledge, experience or understanding of how the commercial world works, yet they are the face/enforces/arbiters of CIMA.
Sad – most of their home countries are or should be on (jet) black lists, yet they try and teach us to suck eggs…..
All they do is eat cake. I’m surprised they don’t get awards for their efforts.
Do they know that it is the regular people that gets the brunt of these fees? Businesses will either cut staff, cut salaries and reduced benefits. The supermarkets, CUC, gas stations, banks will all extend these increase in fees to the consumers. You have raised salaries within government but some private sectors have not raised salaries in years. What should I do to meet these additional costs? Another job which my employers disapprove of, cut my expenses i.e. food, or steal?
Stupid is as stupid does!
They know but don’t care!!
Killing the goose that lsid the golden eggs.
Reap it and then spend it on yourseves! Get these sick politicians out of here!
I am more interested to know when the GOL cost for real estate agents will be raised to be more in line with their potential earnings based on the rip off commission rates. Same as other occupations. So make that one similar to a law firm head honcho. At least in the law firm they have a legitimate skill.
Why does the Cayman Islands have so many real estate agents? Huge fees – cap the fees, that will naturally reduce the number of agents and stop the rip off.
Because the politicians are worthless vermin whose only focus is self-enrichment, so they don’t give a f##k about reducing realtor fees – or anything else which doesn’t directly help them steal money.
This is just the start as these buffoons are spending the money faster than it can come in. Stay tuned to more increases.
When did Cabinet last reassess the budgets for Auditor General, ACC, and SIPLC and the underfunded costs of properly regulating standards in public life and supervising adherence to the Nolan Principles? The Governor, if serious about fighting corruption, might put together an Order in Councik to pass new regulations on staffing, budgets qualifications and procedures, and then disband Parliament until after the next Election.
…the Brits don’t give a damn……this place just gives them some nostalgia of empires past and a place to reward career civil servants with a tour before retirement…..nothing more.