Thank you, Don1!
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Adults in Private Sector flay Baby Bruce's Tax Trap...
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Yuh haffi careful bout anything coming outta Matalon mouth! I know that from personal history. LoL
See the summary of the Capri report here. I have not followed this debate, and it may well be that the greenie proposal is infeasible, but is Matalon talking outta 2 sides of his mouth.
Forgive my Matalon bias...he who feels it knows...
II. L
IST OF SPECIFIC RECOMMENDATIONS AND SOURCES Action
Source
1. Extend the period of validity of the Tax Compliance Certificate (TCC) for taxpayers with a history of compliance.
The Blueprint
2. Design and implement a Unified Tax Return (UTR).
The Blueprint
3. Permit groups of companies to elect to form GCT Groups for the purpose of filing a single consolidated GCT return.
The Blueprint
4. Permit bi-monthly filing for small taxpayers.
The Blueprint
5. Double the income tax threshold.
CaPRI
6. Reduce the Corporate Income Tax rate from 33 % to 25%.
The Matalon Report
7. Eliminate zero-ratings on supplies to the Government.
The Blueprint
8. Prepare and present a tax expenditure budget as part of the budgetary process.
The Matalon Report
9. Eliminate discretionary waivers.
The Matalon Report
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this plan only calls for those earning over $5 million to pay tax on their entire income...those earning $1.5 mil - $5 mil pay tax only on income over $557,232...the numbers work...cut CIT to 25%...increase GCT by 1%...double tax threshold...eliminate all waivers...you now have an equitable tax structure...this is not a jlp plan...it is a capri/joseph matalon/nprstc plan
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This math pains a VERY different picture to the public perception so far...
I would delve into it, but as I dont have a vote, what is the point?
Speaking of which, mi have a BIG vote fi do before Wednesday...federal and communal. Mek mi spend time pon dat!
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