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A reduction in the vat rate is just one of the initiatives that government has employed to provide financial relief to St Lucians according to the Senior Communications Officer in the Officer of the Prime Minister.

A 2.5 percent cut in the current rate will take effect in February next year, resulting in a reduction of 12.5 percent.

But since the announcement by Prime Minister Allen Chastanet this week, questions and concerns are being raised about how government will counter the shortfall of over 50 million dollars—An issue which was further addressed in Parliament on Tuesday

Nicole McDonald says, the government is cognizant of the money that it will be forgoing, but it will be pumped directly into the pockets of St Lucians. She adds that the decision to reduce the vat rate was not done without careful consideration and extensive research

McDonald adds that despite working with a budget put forward by the previous administration, and no policy statement, the Allen Chastanet led government was able to fulfil a promise to reduce that tax.

The government has assured that it will address questions and concerns about the adjustments to the vat regime and other initiatives as soon as its four year development plan and the budget for next year.
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