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‘Better way’ than hiking taxes

BEA DOTTIN, [email protected]

‘Better way’ than hiking taxes

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A Barbadian-born, British-based business consultant believes there are ways for governments to raise tax revenue other “than putting on a tax that has caused everybody a lot of pain”.
In a veiled reference to the recently imposed solid waste tax, Phil Walker, CEO of Summerswood Limited, a consultancy firm, said while it would be “far too strong to say he was in the know with regard to local taxation” he was aware of the tax  recently imposed on Barbadians and the outcry it had caused.
Speaking to the media after addressing the Barbados Chamber of Commerce and Industry’s July business luncheon at the Hilton yesterday,  Walker said: “I think politicians might have to sit down and reflect and ask the question ‘is this an effective way of trying to address the issue that pertains to the local economy.”
Relating his views on taxation to a study done by American economist Arthur Laffer, Walker suggested politicians needed to look at what was the appropriate level of taxation that encouraged people to pay tax, and that encouraged the wealthy to pay their fair share of taxes “as opposed to putting their money in offshore accounts and devising schemes to avoid tax in the first place”.
At the same time he conceded that taxation was a problem in all western economies where governments were trying to raise revenues in various ways. (GC)