Prime Minister Dr. Ralph Gonsalves listed a number of measures to be implemented here to generate additional revenue.
Dr. Gonsalves said emphasis will this year be placed on an increased revenue intake, by reducing tax exemptions and concessions and improving tax administration and compliance. He announced that effective May 1st 2016 a number of items will be removed from the VAT Exemption List and Zero Rated Listing.
The Prime Minister also proposed an increase in the excise tax on alcoholic and other beverages. Vincentians can also expect to see an increase in commercial Property Taxes and there will also be a hike in the cost of motor vehicles and drivers’ licenses.
