A rise within the particular consumption tax, for pure alcohol and cigarettes, is meant increase authorities’s earnings by over 2 billion {dollars}.
Finance Minister Fayval Williams outlined the income measures yesterday, when she tabled the estimates of expenditure for 2026/2027.
For pure alcohol, the anticipated achieve is about 1.6 billion {dollars}.
Whereas for cigarettes, its about 1.1 billion {dollars}.
One other income measure is the modification of the obligation concession on motor automobiles for public sector officers.
The change pertains to the brand new software of basic consumption tax, which is predicted to usher in about 1.3 billion {dollars}.
Mrs. Williams additionally informed the home of plans to extend the GCT on tourism actions.
As a result of ongoing publish hurricane Melissa restoration by the tourism sector, this measure could be deferred till 2027.
She famous that property tax revaluation is underway, and the brand new tax charges might be utilized within the subsequent fiscal 12 months, 2027/2028.
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