Tue | Apr 25, 2017

Full list of Phillips' tax measures

Published:Friday | March 13, 2015 | 3:00 AM

 

TAX MEASURES

- Re-imposition of GCT on electricity will affect four per cent of residential customers.

- Increase SCT on cigarettes from $10.50 per stick to $12.00: Yield $488 million - Effective today.

- Replacement of one per cent petroleum cess on the SCT of $2 per litre: Yield $1.8 billion - Effective next Wednesday.

- Re-imposition of GCT at the standard rate on electricity applicable to residential customer usage above 350kwh per month. Will affect four per cent of residential customers: Yield $807 million - Effective April 1.

- Increase in the specific SCT on petrol by $7:00 per litre: Yield $6.4 billion Effective next Wednesday.

- Environmental levy of 0.5 per cent on the cost insurance and freight (CIF) of all goods imported: Yield $962 million - Effective April 1.

- Rationalisation of outdated fees, fines and penalties, trade and business licence fees: Yield $500 million - Effective April 1.

- Reduction of imported duties on horses from 40 per cent to five per cent: Yield $644 million - Effective April 1.

- Increase in General Personal Income Tax Threshold to $592,800 - Effective January 1, 2016.