Here's one businessman not upset by Budget tax changes
Legalex Bermuda, the only company licensed by Government to sell copies of the Island's laws, is doing booming business thanks to tax changes introduced by the new Budget.
Owner Mr. George Rushe said he's been "flooded'' with requests for his "Tax Legislation of Bermuda.'' He added he's already sold four times as many copies of the changes this year than he did all of last year.
The business, started as a part-time effort three years ago, recognises a need to provide a document which not only covers yearly changes to Bermuda's laws but also compared them to previous legislation in an accurate and unbiased way, according to owner Mr. George Rushe.
"I take enormous pains to make sure this product is accurate. I do not comment on the law,'' he said.
Legalex Bermuda opened for business three years ago when Mr. Rushe, retired from the Island's Police Force after 25 years.
As the law changes he updates his database and produces an up-to-date booklet, the Tax Legislation of Bermuda.
Its biggest buyers are lawyers and international companies, while the biggest interest is in changes to laws related to finance and taxation, according to Mr. Rushe.
In his three years of operating Legalex Bermuda Mr. Rushe has sold just two copies of the Constitution and has had no takers for the Criminal Code.
"As a result of the Budget, I have pulled together different tax laws in the booklet. People can compare to Acts involved before the amendments and after.
The book is therefore a digest,'' he said.
Many of the changes are effective April 1, according to Mr. Rushe.
Demand for the books which sell for $75 has been "phenomenal,'' he continued.
Mr. Rushe faxed an announcement Monday to hundreds of companies on the Island informing them the booklet was ready.
"Since then I've been flooded with calls. I've sold 100 sets so far and I've only scratched the surface,'' he said.
Last year he sold about 25 copies of the changes.
"It is important to remember that the laws changed as they travelled through the House of Assembly,'' he added.
He said he also plans to publish a newsletter about less known laws which are enacted.
There are over 900 Acts in the 11 volumes of Bermuda law, he said.
The House of Assembly provides the laws but "people like the fact they can read the letter of the law'' in an updated booklet, he said.
"It is hard to imagine a company in Bermuda not affected by the new legislation,'' he added.
Mr. George Rushe