Personal Income Tax Amendment Bill Debated

The long awaited Personal Income Tax Amendment Bill was tabled and debated in Parliament on Monday.

The biggest change will see the personal allowance for computing income tax increase from EC $3,000 per month to $3,500 per month.

Finance and Economy Minister, Harold Lovell, says the three tax brackets will be retained.

In showing his support for the bill, Tourism and Civil Aviation Minister, John Maginley, says the total abolition of Personal Income Tax, as is being purported by the opposition, is not feasible since the revenue collected contributes to the maintenance of essential services.

Opposition Member, Robin Yearwood, had this to say.

The tax changes will mean an EC $9 million reduction in tax revenue.