Call for competitive taxation
The Government of Jamaica wants to earn more from taxes by simplifying the system while expanding the tax base.
At the same time, one of its first actions on tax policy seems counter to the issue of expanded collections.
It is The Gleaner Council's view that a hard-nosed approach is needed to deal with taxes.
The Council is convinced that it would be more in the country's interest to reassess the proposed full rollback of general consumption tax (GCT) on electricity notwithstanding the loss of political capital that would result from such a move.
The Government, and particularly Finance Minister Dr Peter Phillips, will have more difficult decisions to make on tax waivers and incentives. The Council's position is clear: the waivers and incentives need to end.
This week, The Gleaner Council lays out its position on how the GCT on electricity should be handled, and makes its case for a competitive tax policy to replace the current distorted system.