Rethink harmful business tax
THE EDITOR, Sir:
Minister Audley Shaw, I give you a reasonable 7/10 for your work done in the ministry thus far as you continue to fight the good fight for the people and for small businesses.
But please, Minister, I am begging you to do something about this minimum business tax. This, I believe, hinders growth, compliance and innovation.
While big companies can afford this minimum tax, it is a burden on small companies, like mom-and-pop shops, which have the dream of becoming big. Hence they register a company, with the hope that one day they will become the next GraceKennedy. However, most are faced with the looming liability of minimum taxes.
I do applaud the work done on moving away from a direct tax system to a more indirect tax system. In addition, I also love the fact that you are lobbying single-digit interest rate from banks for persons who have a dream, but don't have the capital.
I am very critical of governments and their policies, but I think you have acted, for the most part, on things that are beneficial to the people of Jamaica - with the exception of your phone bill, of course.