The opposition Friday evening gave the thumbs down to the Income Tax (Amendment) Bill saying that the threshold increase and the granting of tax waivers to international artistes were not properly thought out. However, the government used its one seat majority to pass the Bill.
Finance Minister Winston Jordan told the House that the Bill is three fold. The first being to increase the income tax threshold from $600,000 to $660,000 per annum. The second to amend Section 13 of the Act to exempt the income earned by artists during festivities certified by the Ministry of Tourism and approved by the Commissioner General and the third to amend the act to provide for taxes paid in excess to be applied by the Commissioner General in reduction of any amounts owing by a taxable person before a refund is given.
He said the increase in the threshold is a step in the right direction. “Any benefit that can be given to our workers is a benefit earned and it is a benefit that we should all applaud …sure we would have loved to have given more but