JIS News

Prime Minister, the Hon. Bruce Golding, said Wednesday night (December 23) that his administration accepted the principle of sharing the tax burden more proportionately and equitably as a sound argument.
He said that, accordingly, the following additional measures will be introduced in the revised tax package:
The personal income tax rate will be increased to 27.5 per cent on all income above the threshold for persons earning in excess of $5 million and 35 per cent for persons earning in excess of $10 million.
Persons earning up to $5 million will continue to pay the existing rate of 25 per cent. Those earning more than $5 million will be charged an additional 2

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