Government Ends Tax Holidays for Businesses

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Thursday 29th November, 2018-All concessions that are currently granted by the government to businesses will come to an end on 31st December, 2018.

The decision was made at the Cabinet level at their weekly meeting on Wednesday. While the tax free holidays will end for businesses, hotel, and agricultural and fishing enterprises will continue to benefit from the concessions.

Ambassador Lionel ‘Max’ Hurst told reporters the offer cannot continue indefinitely, adding it is one of the areas singled out where the government is losing.

Hurst predicts that the payment of taxes from 1st January, 2019, will make a difference in improving government’s revenue.