Bridgetown.
The International Monetary Fund (IMF) in it its lastest Consulation with the Government has recommended the 17.5 percent Value Added Tax be made permanent.
This is contrary as outlined by the Minister of Finance Chris Sinckler in last December Budget, who in upping the VAT from 15 to 17.5 percent had promised then he would review the matter by June 2012.
The IMF called on the Government to focus its attention more on expenditure reduction, including lowering the wage bill, reducing transfers to public enterprises and minimizing tax exemption.They warned that the island was still feeling the harsh effects of the global economic crisis.
