- IMF warns that the Government’s debt target for 2031 will be out of reach without further revenue reforms
- Suggestions include raising VAT rate, increasing Water & Sewerage Corporation tariffs for heavy users, and collecting patient fees from those with insurance
- IMF also recommends replacing Business Licence fee with corporate income tax for large domestic firms and implementing a personal income tax for top earners
- Government aims to achieve a primary surplus of over $1bn in 2025-2026 fiscal year, but IMF suggests spreading out fiscal targets over a longer period
- Government is against raising VAT rate due to cost of living crisis, instead relying on economic growth and enforcement/compliance measures to drive revenues
Source: tribune242.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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