It's already gone through a first reading in the House of Representatives, but the draft Aquaculture Development Bill of 2006 is anything but final, and now it's attracting a firestorm of controversy. The bill is being circulated electronically to watchdog agencies by a group identified as the Shrimp Sentinel which is asking interested parties to work to block its passage.
So what's so wrong with the legislation? Well critics say it is written by special interests and for those special interests with no regard for possible effects on the environment. Critics say that the bill allows the Shrimp Growers Association arrogate unto itself many of the regulatory powers of BAHA and the Department of Environment, as well as the fiscal oversight of the Ministry of Finance.
What we do know is that it provides for lavish tax exemptions in a time of austerity. It exempts shrimp and fish farm owners from land tax, business tax, general sales tax, environmental tax, capital gains tax, or any new corporate tax, and dividend tax, in perpetuity. You can add to that customs duties, and, in fact, the bill proposes that Customs can only inspect goods in an area designated by the bill.
These exemptions, we note, are not in line with commitments government has made to IFI's stating that it will eliminate exemptions. The controversial bill went to committee on Monday, and will be making the rounds before that. We'll examine it more closely in tomorrow night's newscast.
