The Private Sector Commission (PSC) has advised that government to include a cut in the personal income tax from 33.3% to 28% in this year’s budget, saying that the introduction of VAT placed a greater burden on middle-income earners than on self-employed and other persons not captured in the tax net.
In a document titled ‘PSC Proposals for Budget 2013,’ dated January 15, 2013 and submitted to government for consideration for the National Budget, the PSC said, “A more progressive income tax will provide relief to those in the middle-income bracket.” It also considers VAT the more equitable and preferred taxation system going forward.
Also among the PSC’s proposals was abolishing property tax for individuals as
