Browne
Prime Minister Unveils Revenue Miscellaneous Provisions Bill 2024, Focused on Tax Reforms and Accountability
Prime Minister Gaston Browne introduced the Revenue Miscellaneous Provisions Bill 2024 in Parliament today.
The bill, poised for swift approval, represents a significant step towards reducing discretionary powers and ensuring greater transparency in tax policies.
Prime Minister Browne outlined the bill’s core objectives, stating, “What we’re seeking to do here in essence is to remove the discretionary power of the minister to waive several taxes.”
This crucial reform is highlighted by proposed amendments to key acts like the Environmental Protection Act of 2002, where the minister’s authority to exempt levies will be eliminated, thus mitigating potential impacts on tax revenues.
The bill’s scope also encompasses addressing the Revenue Recovery Charge, signaling a departure from past practices where ministers could exercise discretion in remitting portions of the tax.
Notably, amendments to the Tourism Guest Levy Act of 2021 will introduce stringent reporting mechanisms for waived taxes.
Prime Minister Browne reiterated the importance of preserving tax collections to uphold fiscal stability while emphasizing the need for a balanced approach between concessions and revenue protection.
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