This Change To Consumption Based Taxing Is Happening Too Slowly – Larry Watson
President of the Jamaica Chamber of Commerce (JCC), Larry Watson has called for a complete overhaul of the Jamaican tax system.
Speaking at last night’s VM Wealth Management Post Budget Forum, he said he is not satisfied with the rate by which changes promised by the government are taking place.
Watson says while the JCC endorses the move to consumption based taxing as it is in line with a 2012 study done by the private sector. this change to consumption based taxing is happening too slowly.
He says what is needed is a comprehensive review of the tax system with the aim of improving tax collection and allocation. BM