Microbusinesses that manage to escape the tax net should not be a major issue for Government at this time.
A top official of the Inter-American Development Bank’s (IDB) Multilateral Investment Fund (MIF) said these businesses that operated in the informal sector were really helping to keep unemployment numbers down, reduce poverty, and cut welfare assistance demands on the state.
Dr Nancy Lee, general manager of the Washington-based MIF, told the DAILY NATION last night that it was these small and microenterprises that were driving job creation during this very difficult economic period.
Speaking at the close of the micro- financing forum – FOROMIC – at the Lloyd Erskine Sandiford Centre, she said that tax collection, though important to the economy, was secondary to job creation at this time.
