Tue | Jun 22, 2021

... Three other tax measures delayed

Published:Saturday | June 2, 2012 | 12:00 AM

THE IMPLEMENTATION of three tax measures set to take effect yesterday has been delayed until next month.

Yesterday, the Ministry of Finance advised that the introduction of general consumption tax (GCT) on electricity, the termination costs for telephone calls and the modified asset tax for financial institutions and security dealers will now take effect in July 2012.

The new effective dates are as follows:

The measure relating to GCT on electricity will take effect on July 1, 2012.

Adjustments to the termination fee structure as it relates to mobile-to-mobile and mobile-to-land termination will take effect on July 15, 2012.

The modified asset tax for financial institutions and security dealers will take effect on July 1, 2012.

Finance and Planning Minister Dr Peter Phillips announced a $19.4-billion tax package on May 24 in his opening Budget Debate presentation.