VIDEO: Bite the bullet now, Government urged - News - JamaicaObserver.com

VIDEO: Bite the bullet now, Government urged - News - JamaicaObserver.com: "The tax reform proposal, which was submitted in February this year, focuses on consumption taxes that are difficult to evade. By its calculations, this will make $7.3 billion more available to Government compared to the current measures.

The proposal is for personal income tax to be reduced from 25 per cent to 15 per cent and corporate income tax from 33.5 to 15 per cent.
Additionally, the PSWG's proposal calls for a five per cent reduction in general consumption tax (GCT) to 12.5 per cent. This is coupled with its recommendation to apply GCT to basic food items, such as sugar, rice and cornmeal."

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