Economics and Investing:
Some quite bad news has come from an oft-cited “tax free” offshore haven: Vanuatu to impose their first ever payroll and income taxes—without any public comment. The plan is for a payroll tax, beginning in 2017, and then an income tax, beginning in 2018. Vanuatuan officials claim that the offsetting revenue generated by these new taxes will allow them to do away with the current rent tax and also to “reduce” import duties. They say that they also “hope” to eventually reduce the hated Value Added Tax (VAT), but they are making no promises. In sum, these new taxes make …