Thursday, December 8, 2011

IMF tells Barbados to keep 17.5% VAT even as Guyana Opposition complain about its 16%

(Barbados Nation) Barbadians may be forced to live with a 17.5 per cent Value Added Tax (VAT) permanently.

That’s if the Freundel Stuart administration accepts the latest advice from the International Monetary Fund (IMF).

The IMF, which concluded its Article IV Consultation with Barbados on Monday, warned yesterday in a statement that the island was still feeling the harsh effects of the global economic crisis.

And it called on Government to focus its attention more on “expenditure reduction, including lowering the wage bill, reducing transfers to public enterprises, and minimizing tax exemptions.”

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