Name 'big' delinquent taxpayers, says anti-corruption campaigner
Anti-corruption campaigner, Professor Trevor Munroe, is demanding to know which big taxpayers are not paying over their taxes in light of the shortfall in collections from companies.
Professor Munroe, who also heads the National Integrity Action (NIA) says the delinquent companies should be named and shamed similar to the publication of delinquent student loan beneficiaries.
He made the comments in reaction to the Finance Ministry’s publication of the Central Government Summary Accounts Fiscal Monitoring Table on October 31.
According to the publication, between April and September, 2014 the shortfall in budgeted company taxes paid was $4.7 billion.
This contributed to an over $7 billion shortfall, which represented an increased additional short-fall of $2.2 billion in the month of September alone.
At the same time, PAYE tax payers more than met their obligations.
Their payments exceeded budgeted targets by over $676 million.
Professor Munroe says the country needs to know which big taxpayers are paying their taxes at a time when working people, despite the most severe pressure, are carrying more than their fair share of the burden.
He says this information is especially important against the background of the Finance Minister indicating to Parliament earlier this year that at the end of the 2013/2014 fiscal year, 21 per cent of entities with more than $1 billion of sales per annum did not pay any corporate income tax.
He is calling for increased transparency and more information concerning serious short falls in expected tax payment by companies and continued, significant government cuts in budgeted expenditure.
The anti-corruption campaigner is urging the Government to implement the two-year-old recommendations of a private sector working group which urged that delinquent companies not enjoy anonymity and receive the same public exposure as SLB delinquents.
The Private Sector Working group had also proposed that the companies undergo investigation and prosecution where the evidence so justifies.
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