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Financial Analyst Anne Shirley believes the government will not be able to meet its revenue targets despite the announced increase in taxes on some alcoholic beverages and tobacco products.
The increased taxes on tonic wines, spirits, cigars and beedies were announced by the finance minister Audley Shaw during the tabling of the supplementary estimates in parliament yesterday.
The government is hoping to earn $772 million more by the end of this financial year through the increased taxes.
Shirley says while the government had no choice but to target the so-called sin taxes, the money to be earned will not be enough.
Shirley says she wouldn’t be surprised if the government table another supplementary estimates to address arrears already in the system.
The increased taxes on tonic wines, spirits, cigars and beedies were announced by the finance minister Audley Shaw during the tabling of the supplementary estimates in parliament yesterday.
The government is hoping to earn $772 million more by the end of this financial year through the increased taxes.
Shirley says while the government had no choice but to target the so-called sin taxes, the money to be earned will not be enough.
Shirley says she wouldn’t be surprised if the government table another supplementary estimates to address arrears already in the system.