Prime Minister Perry Christie announced last night that the government has abandoned its plan to introduce value-added tax (VAT) at 15 percent and is instead eyeing a lower rate.
Christie also hinted that VAT will not be implemented on July 1 as originally stated.
“As to the rate of VAT, I can assure you that when I put the final package to my government it will not be at a rate of 15 percent,” said Christie as he wrapped up the mid-year budget debate in the House of Assembly.
“I expect to settle the rate in the very near future. I expect to settle the final list of exemptions and I expect to settle the final date of implementation.”
The government initially said VAT would be introduced on July 1.
Christie said the government is waiting on the completion of dialogue with the private sector and the general public as it relates to the tax and the question of whether the government is “absolutely convinced that there really is no viable alternative to VAT”.
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