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Shyne says Brads should pay a fair share; Brads says GOB is taxing it out of business

Today the UDP heaped criticism on the Government’s plan to collect more tax dollars with the new Trade License regime, the Government continues to maintain that the Barrow administration missed out on plenty of revenue by failing to tax the rich. One company they insist benefited from that decision is Brads Gaming, which runs the boledo and Sunday lottery jackpot. The PUP says that about 60 million dollars was not collected because there was not an equitable tax policy under the UDP. The belief is that Brad’s Gaming has a silent partner, which was closely connected to the last administration. When asked about whether the company should pay up, UDP Leader Moses “Shyne” Barrow agreed that they should, regardless of the political connection. Here’s how he explained it.

Moses “Shyne” Barrow: “I completely support the tax on Brads because that is an example of what I said earlier. Taxing those people that are making millions, and millions, and millions of dollars and certainly, Brads Boledo would fall under that category. So I have no difficulty with implementing that tax that should have been implemented for years. I am consistent. We need to get a sharing of the burden and as I said earlier, before you asked that question, that those people that are making millions and millions of dollars, those are the people that need to pay the taxes. Before they went after the peddlers with this Trade Licence, I prefer them trying to get that 60 million that was exempt, that is, and the Prime Minister’s sister as well. So you see, I’m not calling on the Prime Minister to collect taxes from just his sister. It applies to everyone. I don’t know that Anwar Barrow owns Brads Boledo. That is information to me. I don’t do business with him. I don’t know anything about his business ownership. I just know Brads Boledo owned by Brads. I support the 12.5 taxes and, um, before we go to the small people, the peddlers, the entertainers, get those millions of taxes that were exempt for so many years. That would be a move that I would support. 

In a rare statement from Brads Gaming, the company says it filed an action in the Supreme Court back in April to quash S.I. 51 of 2022. The company argues that the S.I. is quote “designed to and will have the effect of taxing the company out of business” Unquote. The company insists it only manages the lottery and it does not own it. It adds that Government has never taxed the lottery hence the previous exemption in the law. However, the company says that Government does levy taxes on it and participates in the company’s profits. It includes an annual license fee of $2.5 million, a half-million-dollar profit sharing, fifteen percent of profits above a million and business taxes, which was over $800,000. Last year, the company says it has paid over $3.8 million in taxes and fees. Under government management, Brads says that the lottery was generating about $1.2 million in sales, $800,000 of which went to Government after taking out the cost of printing books. The company ends by saying quote “this action is motivated by a political agenda and will yet again result in unnecessary legal costs and losses to taxpayers.” End quote.