1% foreign exchange levy deferred "a few weeks"
Tuesday, November 10, 2015 - 22:01
The implementation of the government’s controversial 1% Foreign Exchange Levy has been deferred again for a “few weeks”, stated the Minister of Finance, Hon. ‘Aisake Eke in a letter, dated 6 November, circulated to general managers of financial institutions in Nuku’alofa.
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Comments
I'm very interested in why
I'm very interested in why legislation was passed without:
1. the revenue for the tax being calculated? What is the point of a tax if it's not going to raise the needed money?
2. any review being done to calculate the impact of this new tax on business and remittances. How much will the economy shrink resulting in less employment and tax?
3. the net effect of both the above?
4. the short/medium/long term effect of the Pacific Games on the country?
Greg