Review of the tax system It is the view of Government that the tax structure should always be relevant to the needs of the country. As such, we have initiated a process whereby we propose to undertake a review of the tax system beginning with another review of the income tax regime. The Caribbean Technical Assistance Centre (CARTAC) has indicated a willingness to assist us in this process. It is likely that the entire system may be changed. For example, we could opt to set a flat rate of income tax which may make administration and calculation simpler. We will engage the relevant stakeholders in this exercise. Madam Speaker, I will now outline the fiscal measures adopted for this fiscal year. The intention is to bring relief to the extent that we can to our citizens and residents, as we work towards expansion of the economy. There are no new taxes in this budget.
Posted on: Thu, 24 Jul 2014 16:45:01 +0000
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