Golding describes proposed reverse tax credit as a ‘giveaway for political advantage’

Opposition Leader Mark Golding has described the government’s proposed reverse tax credit as a “giveaway for political advantage”.

In last week’s budget debate, Finance Minister Dr. Nigel Clarke announced that people earning less than $3 million per annum, are set to benefit from a reverse tax credit of $20,000.

Reacting to that announcement during his presentation yesterday in the budget debate, Mr. Golding argued that the proposed plan is questionable and impractical.

Mr. Golding also argued that it is unfair for employees to not benefit from the tax credit, because their employer, is not tax compliant.

He said many businesses are behind in tax filings, and employees should not be penalized for this.


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