Tot Is ‘Disruptive’ To Growth, Says Gibson
PHILIPSBURG--The five-per-cent turnover tax (ToT) is “disruptive†and an “impediment to economic growth†due to its “multiplier effect†on the cost of goods and services, Finance Minister Richard Gibson told Parliament on Wednesday.
“We have to do away with it or move it down,†Gibson said of the ToT. He has the same belief about the country’s profit tax. It is tough to enforce the profit tax system, he said Read more
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