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5,000 TO GO OFF TAX ROLL

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Contact: Roger Joseph

February 10, 1999 - Some 5,000 St. Lucians will be struck off the tax roll if the Cabinet of Ministers approves and Parliament enacts the new Income Tax Act. In addition, persons earning 15,000 dollars a year and 20,554 dollars a year will enjoy substantial reductions in the amount of income taxes they pay. That’s the word from Prime Minister and Minister of Finance Honourable Dr. Kenny D. Anthony.

In a statement issued Wednesday, Dr. Anthony said, these proposals are contained in a draft of new tax legislation that the government hopes to take to Parliament. According to the Prime Minister, this new tax measure will benefit a number of civil servants at the lower end of the salary scale as they will enjoy substantial reductions in the amount of taxes they pay. In some cases that will be by as much as 30 per cent. Other persons who stand the benefit most from this proposed legislation include certain categories of hotel workers, domestic helpers, receptionists, sales clerks, cashiers and typists, to name a few, the Prime Minister said.

The draft has been circulated to companies, trade unions, accounting firms and other stakeholders for comment. This, according to the Prime Minister, is a reflection of this government’s policy of engaging the public and stakeholders in discussion about important economic and social legislation.

Dr. Anthony emphasized that the draft legislation is just that – only a draft! It is not cast in stone. He added, once proposals from the stakeholders have been received they will be refined, considered by the Cabinet of Ministers and then forwarded to Parliament.

 

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