TAX ON PAY OR ON PROPERTY - OUR CHOICE? TURKS AND CAICOS MINISTRY OF FINANCE PITCHES BOTH IN PUBLIC MEETINGS Most other countries in the region either have a payroll tax or a property tax… the Turks and Caicos has neither and is under pressure from the UK to create a broad based tax.... this from the TCIG Strategy for Recovery document, issued to media and the one which is being presented in those Ministry of Finance public meetings. The strategy also illustrates a side by side comparison of the payroll tax and the infrastructure maintenance levy… the graphic demonstrates that the ministry of finance believes the payroll tax would not only be more equitable or fair, easier to manage, inject revenue faster but it would be more profitable, growing with the economy. It has been announced that one of the two will be instituted as government aims to increase recurrent revenue by $12 million dollars. Finance seems to be leaning toward the payroll tax. Public meetings are still to held in North Caicos, Middle Caicos and South Caicos…the National Budget Communication has been put off to May.
Posted on: Wed, 26 Mar 2014 03:42:27 +0000
Trending Topics
Recently Viewed Topics
© 2015