Tuesday, April 23, 2024

VAT stays


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Minister of Finance Chris Sinckler has firmly rejected abolition of the value added tax (VAT) and its replacement with a sales tax as mooted by Governor of the Central Bank Dr DeLisle Worrell.
Sinckler also made it clear that, contrary to suggestions from the Opposition and other critics, fiscal policy was made by Government and not the Central Bank.
“Let me say this and make this very clear,” he told the House of Assembly yesterday, “for the avoidance of doubt, that at present, I, certainly as Minister of Finance, and I know not the Cabinet, unless something happened that I didn’t know about, and [I am] 150 per cent sure, I have never received any written, or indeed, verbal recommendation for the abolition of the value added tax (VAT) from anybody – private sector, Central Bank, Ministry of Finance, Ministry of Economic Affairs, nobody!
“Let me make it abundantly clear as well: the value added tax is the premier indirect tax of Barbados and it shall remain so. . . .

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