Luxury goods to be taxed to assist with national security
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Luxury goods to be taxed to assist with national security |
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Contact: Claudia Monlouis
Wednesday, 15 September, 2011 – A new piece of sunset legislation will come into effect during the course of this new financial year.
The Security Tax will be imposed in the form of a one percent tax on luxury goods for a period of one year.
Prime Minister Honourable Stephenson King on Tuesday, September 13, 2011 presented the house with a schedule of items which will be exempted from this tax measure.
“It is therefore recommended that the security tax bill be enacted to assist government in financing initiatives to heighten security in Saint Lucia and reduce crime.
“More and more our country, our people are being called on to provide and introduce measures to secure themselves. It is not only in Saint Lucia, it is throughout the world. As I said in the 2011-2012 Budget Address, we cannot sit back and provide pressure on the public purse to provide security to our people but we must undertake certain initiatives short term, medium and long terms initiatives, to fight crime in this country”.
The prime minister says the tax imposition will not affect the poor and disadvantaged nor the food basket of government subsidized goods.
The legislation is forecast to expire on the 31 of December 2012. |
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