But what taxes will increase? The media asked if it might be new sin taxes on cigarettes and liquor, or an increase in the GST. The PM said wait until Monday:…
Isani Cayetano- Reporter
"There is a speculation that sin taxes will increase in terms of alcoholic beverages and cigarettes and what have you. Would you be able to speak on that?"
Rt. Hon. Dean Barrow - Minister of Finance
"The budget is on Monday so there's no long time to wait. I won't tell you what will happen, I will tell you what will not happen and I think I said it earlier, not a civil servant going home, not kind of increment freeze, no kind of rollback of the income tax threshold, no kind of increase in business tax, I will leave it there."
Jose Waight - Financial Secretary
"Indeed there is some work needed to be done with the GST to widen its base so as to avoid an increase in the standard rate, the standard rate is currently 12.5% - to avoid that having to go up any more. You will hear on Monday and I don't think there will be much in the way of touching the GST at all, I can tell you that now."
Jules Vasquez
"Not even the exemptions?"
Jose Waight
"There might be a little nibble there, a little touch there but not much."
Email
Print