Minister of Finance, the Honourable Colm Imbert, MP, presented the Budget for Fiscal Year 2022/23 yesterday afternoon (Monday 26th September 2022) at 1:30 PM in the House of Representatives. Below are the various fiscal and other measures that were proposed during Minister Imbert’s Budget Presentation: 1. Personal Income Tax Allowance
2. Vat Registration Threshold
3. Renewable Energy/Business Rebate for Agriculture
4. Subsidy for Housing and Village Improvement Programme
5. Manufacturing Tax Credit
6. Energy: Investment Tax Credit
7. Supplemental Petroleum Tax
8. Electronic Payment Providers and e-Money Issuers
9. Petroleum Profits Tax
10. Illegal State Timbering
11. Illegal Quarrying
12. Scrap Iron Penalties
13. Approved Small Company: Exemption from Corporation Taxation
14. Renewable Energy
15. School to Work Apprenticeship Allowance
16. Fees Chargeable for Commissioners of Affidavits
17. Firearm Users Licence Fees
18. Tax Amnesty
19. Oil Pollution
20. Threat of Giant African Snail and Other Agricultural Pests
21. Inter-Island Air Bridge and Sea Bridge Travel
22. Government Assistance for Tuition Expenses (GATE)
23. Fuel Prices
24. Transport Grant Facility
Below are the major fiscal 2023 allocations for the various Ministries:
If you missed the Budget Presentation, you can watch it below in its entirety. We are a small operation. If you've found our articles to be informative, please consider supporting us via PayPal or buying us a coffee. Your contribution is incredibly appreciated and goes a long way. Simply sharing our articles also helps us. Sign up for our free WhatsApp Alerts to be notified as soon as we post breaking news. NEW! Check out our Merchandise Store for high-quality t-shirts, hats and more!
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