News Feed

December 9, 2016 - Bulls snap Spurs’ streak Dwyane Wade scored 20 points, and t ... +++ December 9, 2016 - Cyclist hurt in crash with ZR A cyclist was rushed to hospital th ... +++ December 9, 2016 - Guyana suspends trade in Barbados dollar A deluge of Barbadian dollars on th ... +++ December 9, 2016 - Businesses warned to keep up or die Keep up with technological changes ... +++ December 9, 2016 - Media needs to be more balanced in gender reporting The local media’s reporting on is ... +++ December 9, 2016 - BAS on board with BHTA After years of complaining about th ... +++

Inniss raises another 2% levy red flag

There seems to be no end to concerns over Government’s controversial two per cent National Social Responsibility Levy introduced just over two months ago.

Minister of Industry, International Business, Commerce and Small Business Development Donville Inniss Friday revealed that the international business community was worried about the tax, first announced in the 2016 Financial Statement and Budgetary Proposals by Minister of Finance Chris Sinckler.

Without saying what those concerns were, Inniss told the 23rd annual conference of the Institute of Chartered Accountants of Barbados at the Lloyd Erskine Sandiford Centre he had written to Sinckler making it clear the tax ought not be applied to the international business sector.

Donville Inniss

Donville Inniss

“If we take for example, the National Social Responsibility Levy that we recently introduced . . . I am very mindful that the implementation has been fraught with some challenges.

“That is why for example, with respect of the international business sector, I have written to, and indicated to my colleague, the Minister of Finance, and others, that my interpretation of the legislation that governs that particular sector makes it clear that that levy should not be applicable to the industry in particular,” the minister said.

Speaking on the theme, Barbados at 50: Reaching Beyond This Horizon, Inniss said an area of concern for him was “the matter of clarity and consistency in [Government] policies”, adding: “I cannot bury my head in the sand and say it is not a significant issue.”

In September Inniss had indicated that clarity was needed on the implementation of the levy after manufacturers had expressed concern about its impact on the sector.

He had said at the time the levy had created a level of uncertainty “which merits me and the Finance Minister having a conversation and giving clear guidelines”.

About a week later Sinckler had announced that after meeting with manufacturers their concerns over the point at which the new two per cent tax would be applied had been resolved.

And just last month it appeared that some local retailers were just as clueless about the tax and how it should be applied, prompting the Barbados Revenue Authority to issue a strong word of warning that the tax was not be applied at points of sale, as such a move was “illegal”.

Inniss Friday said he was certain any outstanding concerns were being adequately addressed.

“Certainly the Barbados Revenue Authority continues to be available to address any concerns that one may have. I think we have addressed most of the concerns. There are a few left and they are very much being addressed as we go forward,” the minister assured.

The new tax is to be applied on the customs value of all imports, excluding goods for the manufacturing, agriculture and tourism sectors, to avoid double taxation.

It is expected to raise more than $140 million which Government said would go towards funding the island’s health care and sanitation services.

6 Responses to Inniss raises another 2% levy red flag

  1. Veroniva Boyce
    Veroniva Boyce November 12, 2016 at 5:34 am
    Reply
  2. Maria Kirton
    Maria Kirton November 12, 2016 at 9:05 am

    Aren’t the people paying enough?

    Reply
  3. Hal Austin November 12, 2016 at 11:03 am

    Has Inniss ever made a positive contribution to Barbadian social or political life?

    Reply
    • Mark My Word November 12, 2016 at 12:27 pm

      What about you Hal have you made a positive contribution to Barbadian social or political life?

      Reply
  4. Sue Donym November 12, 2016 at 1:16 pm

    The usual: another tax grab method – check
    fancy name – check
    administration details – check me later!

    Reply
  5. Hal Austin November 12, 2016 at 2:34 pm

    Mark,

    Last time I stood for election I got nil votes. Seriously, I have no desire for elective politics, he does. I have offered my services to my nation, but have been ignored.
    I have even offered fellowships to Bajans and had not a single offer.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *