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$500 million estimate put on tax waivers

SHERRYLYN CLARKE, [email protected]

$500 million estimate put on tax waivers

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AN ESTIMATE put to the Ministry of Finance has placed the cost of a suite of tax waivers and concessions under the proposed renewable and alternative energy initiatives at about $500 million.
That’s according to Leader of Opposition Business in the House of Assembly, Kerrie Symmonds, who was speaking yesterday during debate on a series of amendments to the Income Tax Act to give effect to the incentives.
The St James Central MP said the Opposition had some “concerns” about the proposals, ranging from the absence of certain definitions, the lack of an interpretation template and no clarity on taxation provisions.
He also called on Government to put before the House a plan showing the priorities for the granting of concessions to the different sectors of the economy, which had become a national issue within recent weeks. (AB)
Please read the full story in today’s SATURDAY SUN or in the eNATION edition.