According to the Business Page written by renowned accountant Christopher Ram (November 21), “in 2007 alone VAT amounted to 12.6 billion, or 49%, of which VAT by itself had exceeded the taxes it was supposed to replace by a staggering 76%. Over a four year period the combined excess would therefore be approximately $50 billion.” My questions are: Is VAT really and truly revenue neutral? Why would the President and the Finance Minister posit that VAT was revenue neutral when in actuality it is not? With VAT amounting to roughly $50 billion since its implementation, can’t the rate of VAT be reviewed?
I ask these questions based on the fact that many single mothers like myself are burdened and stressed because we have no real spending power.
With VAT being paid on nearly every item, the cost of living appears very disheartening to us. Jah knows we feel the pressure and the pain in our pockets because we truly live by gasping for air every time we study how to make ends meet. With some of us having no jobs, (housework is not paid work), working two jobs, plus the day and night shifts, we are at our wits end to really nurture our children the way they should be nurtured. Is there a place within the hearts of the President and Dr Ashni Singh to review VAT?
Can Mr Christopher Ram share his professional analysis on how a VAT reduction will amount to real spending power for our many single parents? How can we ease the pain that keeps growing stronger? It is my hope that this missive will be the catalyst that produces real change in the VAT rate.
Yours faithfully,
Nicole Cole
Commissioner (2009-2012)
Women and Gender Equality Commission
