Prior to Parliament’s Committee of Supply continuing the consideration of the budget estimates yesterday, Finance Minister Winston Jordan addressed the House and read the Income Tax (Amendment) Bill for the first time, a day after he made an announcement that he would be moving forward with his budget speech promises.
The Bill seeks to amend section 16(1) of the Income Tax Act mandating that workers no longer pay income tax on their National Insurance Scheme contributions.
The Bill will also increase the nine areas of