[dropcap]A[/dropcap]s of February 1, 2017 an estimated $52.5 million a year will be pumped back into the hands of the people of this country.” This proclamation was made by prime minister Allen Chastanet when he made his address to the nation last night. This additional estimated revenue that will adversely aid the players in the economy will be as a direct result of the reduction of the national Value added Tax. A decision the pm said, was not arrived lightly.
The pm continued, “I can announce to you today that our government will reduce the standard rate of Value Added Tax from the current 15 percent to 12.5 percent.”
Tax affects everyone the pm said, reiterating the need to look at the tax regime and find ways to grow the economy. “The goal is to reduce the tax burden on the population, while making the tax system more business and investment friendly and most critically ensuring fiscal sustainability,” the pm stated during his address to the nation.
Today, the house will meet to table the legislation of the Airport Charge and the new Value Added Tax (VAT) relief measures.
Chastanet ended his address in a solidarity tone, asking the electorates and country on a whole to be patient and have faith. “I am asking all Saint Lucians to have hope, to have faith in the changes we are going to make to this country. I am asking you to believe that things can change and get better if we all come together to rebuild this country,” the pm closed with.
See below for the National Address:
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OK 52.5 million a year so he say. This is a lot for a small government with no natural resources to give up. Please stop living in a bubble. Now where is this $52.5 million is going to come from TO PUT BACK in the government coffers to offset the budget ?? So lets see now could it be a hike in the Communication Tax ? If it is St Lucians will pay more for cellphone use and cable service. Utilities Tax on Light and water a government favorite. The Petroleum Tax ha ha ha, cooking gas , diesel and gasoline, kerosene for poor people high gas prices higher taxi fares need I say more. Import levy on appliances, mattress, ect, as if that's not too high already thanks to The Courts and S&S Lobbyist . Rum and Cigarette Tax . Increase landing fees ?? More to land more to come down need I say more finish the puzzle. Hotel and Resort Tax more to come more to stay need I say more finish the puzzle (make this mistake and run Uncle Butch just try it). Increase on food import because Lucians refuse to grow what they need and eat what they grow. The poor and working poor St Lucian will hardly feel the relief of this reduction if any at all they are the ones who pay never Allen and his CLIQUES. Heeeee he open his mouth too quick. He did not add the Trump Factor and the market falling already you know what they say when America sneeze what happen to us in the Caribbean.