The Senate today approved an amendment to the General Consumption Tax, GCT, Act which increases the threshold for companies to pay GCT from 3 to 10-million dollars.
The bill also proposes to reduce the administrative burden being faced by businesses.
Government Senate Leader, Kamina Johnson Smith, piloted the draft legislation.
Senator Johnson Smith says the bill is also expected to make the GCT system more efficient.
Kamina Johnson Smith, Leader of Government Business in the Senate.
Meanwhile, Opposition Senator, Wentworth Skeffrey supported the passage of the bill.
Government Senator, Don Wehby, says the amendment to the GCT Act is timely and will positively impact many businesses.
They were speaking in the Senate today.
Meanwhile, Veteran Politician and Opposition Senator, KD Knight, says the country cannot afford politicians who’re given to stealing State resources.
He made the comments during his contribution to debate on a bill to amend the GCT Act.
Senator Knight was referencing the Auditor General’s Special Report on the scandal-hit, Caribbean Maritime University, CMU.
Senator Knight says the special report highlights deficiencies in governance.
He says if this is not addressed the people will view politicians as hypocrites.
KD Knight, Opposition Senator
He was speaking in the Upper House this afternoon.