The Dominica Electricity Services Limited (DOMLEC) has reportedly recorded a loss of EC$270, 000 after a tax obligation.
DOMLEC said it had to pay off a $6.1 million tax obligation dating back to disallowed tax exemptions taken in 2001.
The power company will hold its annual general meeting on Thursday, May 12 at Fort Young Hotel, where it is to discuss operation matters.
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Dominicans are being fooled and allow themselves to be FOOLED AGAIN and AGAIN and AGAIN. What is so sad is that many of my fellow men and women do not even care whether they are taken for such bumpy, sometimes fatal RIDES. It was the Dominica Labour Party which chastised the opposition, while in Office, cried blood, called the Govt. at the time as SELL OUTS when DOMLEC was sold to CDC, a British Co. The DLP campaigned, advocated vigorously, consistently, FOOLED the Dominican Public that they would, if voted into Office, return DOMLEC to Local ownership. Never forget my people.
What did the DLP Govt. do in Govt.? They sold DOMLEC to another FOREIGN Co., named WRB from the US. On top of controlling DOMLEC/ ELECTRICITY, WRB linked with the DSS (Dominica Social Security) as another major share-holder and was allowed to purchase MARPIN Co. So now WRB, a foreign USA Co., now controls Electricity, and the MARPIN local TV business. MORE FOOLING of the people AGAIN.
The DLP Govt. boasted that with PETRO CARIBE coming to Dominica, setting up operations at Jimmit where several FUEL STORAGE TANKS have been built, Electricity, gas and diesel prices would be greatly REDUCED. They told Dominicans that since Petro Caribe would be selling diesel to DOMLEC at a much reduced price, our ELECTRICITY BILLS would NEVER INCREASE. What is the REALITY at PRESENT? Convince us PATRIOTS that the whole thing wasn’t a GIMMICK. Dominicans were TAKEN FOR a RIDE AGAIN. Many Dominicans jumped up, they were ecstatic, praising the DLP Govt. blindly, not realizing that it was a BIG HOAX. The Dominican People were being FOOLED AGAIN.
In fact, up to this present day, fooling the people has become NORMAL. Incompetent politicians FOOLING the people AGAIN and AGAIN and AGAIN has become an ACCEPTED NORM in Dominica. The calypsonian, Mighty Sparrow, sang years ago, “WE LIKE IT SO.” Increased FUEL SURCHARGE and other related costs on our electricity BILLS will take care of that DOMLEC ‘LOSS’ Believe it or Not.
Isn’t Domlec also government owned? So isn’t the money just going to recirculate?
So what is the fuss about peeps?
Domlec you are not easy at all. This is how you are going to justify increasing electricity rates..Shame on you!!! You have enjoyed a monopoly in Dominica now for 30 years or more. We have always stood by while you enjoy all your profits, increasing rates increasing rates. But not this time… pas la! We are not going to stand by while we experience another increase in rates, you better believe that. It’s time for Dominica, Government of Dominica release this shackle that Domlec have over us, and allow new companies to come in as service providers, given them some competition. That is what they need and see how rates will decrease.
I guess all this is part of the millions owed to government the PM referred to. Now time to collect from all the others…..
For the last few years I am almost sure that Domlec registered profits of 6 million per year. They had to pay same amount for taxes owed over 10 years how on earth can it be a loss? They assume Dominicans must be stupid…. They are just trying to justify raising the cost of electricity. Every Dominican pays taxes, I pay almost $10, 000.00 a year in taxes, and wish I did not have to because I could find uses for it. So how can hard working Dominicans pay and MULTIPLE MILLION dollar profit making Domlec not pay? PLEASE!!!
DOMLEC whose fault it is? Hope your meeting is not to huff some more $ from the poor costumers.
How many postings did I make in the past I have seen six consecutive posting by Trevor Johnson you are too BIAS GFY
I am blaming Julius Timothy, disgrace Earl Williams and the rest of UWP.Who sold our Domlec putting it in the hands of foreigners .The DLP is not blameless,I also consider it to be crooked and dirty.During the 2000 campaign and even before CDC put Domlec for sale their mantra was.
“We will buy back Domlec, and put it back in the hands of Dominicans”
They never follow through.So the company was placed in foreign hands once more.This time DSS bought some shares.
As a shareholder I stand to suffer financially.
they are busy to post what they lose and not what they stole or earn lol lol lol lol
DOMLEC SOUNDS PRETTY MUCH LIKE DOCTORS, THEY TELL YOU HOW MANY PEOPLE THEY CURE BUT THEY DON’T TELL YOU HOW MANY THEY KILL.
NOW, THEY TELLING US HOW MUCH THEY LOST, ARE THEY GOING TO TELL US OF ALL THE PROFITS THEY MADE FOR THE PAST TEN YEARS THEY DID NOT PAY THEIR TAXES?
A very unpopular company, meaning, ‘A Failure’.
Domlec is forever taking these shareholders for a wild ride, and making them pay from the a*s in high monthly rates.
Will someone ask any of them if their dividends have gone up or changed since Dumlec took over this company. Truthfully NO! Shareholders need to do something. They are left in the dark as we all are, paying whatever dividends they receive right back to Dumlec in the highest electricity rates in the region; with nothing to show for their shares. Shameless company!
I hope DOMLEC doh expect us to pay for dat!! Blame your employees for their incompetence and take it from their salary!! Now learn your lesson and pay your taxes. DO not try to evade taxes by claiming nonsense!
pay ceasar what is owed to him.(goverment). Domlec you need to start spending money to make money.
There is alot of remote areas in Dominica that need your services Students are still using candles to study, simply because some family cannot afford to pay $20,000.00 dollars for poles and eletrical wires and if they cannot afford to they will not recieve your services.
Maybe you could start investing in these areas who need your services. The more customers you have your revenue will increase and you will be able to pay your taxes on time and increase your profit in due time.
A student who has study for years using candles simply because we could not afford to pay $20,000.00 for a family of five. So if you were sitting on 6,1 millon dollars you can invest some more in your country.
black queen u are contradicting your own self by wanted domlec to invest $20,000 in poles only to collect $100 light bill a month from a family of five. would you spend $100,000 to open a whole sale or supermarket to serve two house whole in some isolated area hoping to make back that money on them two families? think before talking even if u may not like domlec
i am not contradicting my self, my point is Domlec need to invest in the country some more and may i add we were not the only family that was charged the said amount.
Fifteen year and still no electricity if we recieved telephone services i think we have every right to recieve electricity. Spirit you have a great evening
The loss was caused by the exhorbitant amount being transferred to their parent company in under the guise as MANAGEMENT Fees
MORE TO COME!!!
yep…. 2 discuss how 2 get it back frm customers..dats wat d general meeting 4… hmm hm
I was thinking along the same lines.
We’ll just have to wait and see.
oh please. you oh tax pay up. if home owners owe what does DOMLEC do to them?????
“dating back to disallowed tax exemptions taken in 2001.”
Why did they wait so long to pay off their tax obligations? Weren’t they profitable from 2001 to 2010? Should we feel sorrry for them now? Paying off a 10 year $6.1 million dollar tax obligation in a single year, hardly represents a loss. It’s an accounting gimmick to deprive current shareholders their just dividends!
they were recently informed that they were not exempt from the taxes due to legislation changes. They are also owed a lot of money by the government and other large customers.
You can never outrun the long arm of the tax man.
Ten years!!!!
Thank you PM Skerrit and your ministry of Finance/Inland Revenue for securing for Dominica what belong to Dominica.
yep lights goin up again