Wednesday, October 18, 2017

A tourism tax revenue sharing...not a VAT, an AVD

If, for example, in Margarita there was a 15% tax on all tourist activities, and that tax was distributed among all that island’s residents, the incentives would be aligned and they would all row in the same direction ... and… if some didn’t ... let's just say there would be consequences.

Disguised as an ordinary VAT, it would in fact represent an AVD, a Value Added Dividend.