Shaw Counting on Tax Compliance to Plug Potential Fiscal Gap

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Finance Minister Audley Shaw, says that the $16-billion needed to fund a further increase in the Income Tax threshold will not necessarily be an automatic tax measure.

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He was speaking at a press conference last week.

The Income tax threshold is expected to increase from approximately $1-million this year to $1.5-million in April of 2017.

Minister Shaw says that tax compliance and other measures are being pursued to assist in plugging the gap.

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Speaking with Nationwide news says the final size of the tax package will be dependent on the effictivness of the Government’s tax reform measures.

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Meanwhile Minister Shaw says the country is on track to reduce it’s Wage bill to 9-percent of GDP by 2019 despite upcoming public sector wage negotiations.

The the Wage to GDP ratio currently sits over 10 percent representing approximately $20-billion over target.

Minister Shaw says along with public sector attrition and economic growth the target will be met.

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