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NDP's plan to tax its way to prosperity will fail – Hon Andrew A. Fahie

- said Government raising taxes & fees at a time when persons have less
Representative for the First District Honourable Andrew A. Fahie believes that the National Democratic Party's (NDP) strategy to increases taxes and fees as a means of shoring up Government's coffers is a sure fire way to failure. Photo: VINO/File/Provided
Honourable Fahie was at the time giving a reaction to the $331 million budget presented by Premier and Minister of Finance Dr The Honourable D. Orlando Smith in the House of Assembly on Monday February 8, 2016. Photo: VINO/File
Honourable Fahie was at the time giving a reaction to the $331 million budget presented by Premier and Minister of Finance Dr The Honourable D. Orlando Smith in the House of Assembly on Monday February 8, 2016. Photo: VINO/File
ROAD TOWN, Tortola, VI – Representative for the First District Honourable Andrew A. Fahie believes that the National Democratic Party's (NDP) strategy to increases taxes and fees as a means of shoring up Government's coffers is a sure fire way to failure.

Honourable Fahie was at the time giving a reaction to the $331 million budget presented by Premier and Minister of Finance Dr The Honourable D. Orlando Smith in the House of Assembly on Monday February 8, 2016.

“It was an interesting budget. The Premier read and delivered what he was reading extremely well,” he said.

According to Honourable Fahie, it is clear that more revenue is intended to be derived from many increases in Government fees and taxes of the people in a time when most persons have less.

“In that vein I must respectfully state that a government that seeks to tax its way to prosperity is like a man standing in a bucket and seeking to lift himself to a higher place - a task that has been proven as one of colossal failure.”

However, he said the Opposition will remain hopeful for the best. “I want what's best for our Virgin Islands and will assist in whatever way I can do to secure a brighter future for present and future generations while ensuring from henceforth that best practises in accountability and transparency are realised," Hon Fahie said.

New taxes & fees to bring in $20 million yearly

During the budget speech, the Premier said that based on the challenges from the international scene the territory has not been able to achieve in the past few years what it had become accustomed to in the past. He said despite this the demands of the public and visitors and from the international regulatory community have grown.

“This means that new revenue streams are needed to handle our commitment and obligations. We have to change the old way of doing things if we are to survive,” Premier Smith said.

The Premier said the work permit structure would be changed so that the fees will be more in line to what is charged in other overseas territories.

Rates of duties granted on the CIF value of items brought into the territory will be increased. There will be a more aggressive approach to the collecting of taxes and fees.

He said these measures are expected to rake in some $20 million in revenue to the treasury.

In addition to these measures, the Government is to establish a more "progressive tax system" in 2017 to improve efficiency and reduce the cost associated with tax collection. The fee structure for hotel and yachts is to be harmonised also, said Premier Smith, with the aim of consolidating existing fees and making the system easier to monitor.

13 Responses to “NDP's plan to tax its way to prosperity will fail – Hon Andrew A. Fahie”

  • wize up (10/02/2016, 08:03) Like (10) Dislike (8) Reply
    sounds like RT Hon Fahie is the Leader of the opposition because one tends to hear more from him on social matters however countries all over the world uses taxation to generate revenue for the state; the USA have far more income that this little territory and they have set of taxes: let also say this for the record, workes in BVI have be paid one of the lowest wages in the region under fahie' s political party ( if I lie I die )
    • @wize up (10/02/2016, 08:24) Like (21) Dislike (0) Reply
      We should not be made to pay for the NDP lavish spending spree through more & higher taxes & fees. Mark alone had a $120,000.00 one day pier opening ceremony with a $30million over spending on the project while Myron had so many like the over priced $1 million ESHS wall and I can go on. The people should not be made to now pay for these kinds of lawless financial conduct while no one is investigated nor gone to jail.
      • wize up (10/02/2016, 09:17) Like (4) Dislike (0) Reply
        @ wize up: I agree with you and let me add this I am very sorry for any other party that assumes leadership of the territory because they have no operating capital: as it is now most of any income generated must go towards repaying all those loans..... how can the voters make sure that measures are in place to curve extravagant moving forward; why cant the voters have a vote on these projects....
      • DON'T FORGET (10/02/2016, 14:33) Like (9) Dislike (0) Reply
        ronnie spent over a million on a useless wall up at spooners
    • Expat (10/02/2016, 09:25) Like (18) Dislike (0) Reply
      WIZE UP you can not compare the big USA with a little ISLAND with a population about thirty thousand. The USA have tax return what we have one tax after the other .They do things base on the economy but this government do it to save their wild spending and enough to ///// and live a lavish off tax payers.
      .
  • well saw (10/02/2016, 08:14) Like (21) Dislike (1) Reply
    The NDP has been a great disappointment. Too many lies. Too much stealing.
  • mixed feelings (10/02/2016, 08:40) Like (11) Dislike (1) Reply
    We do not have the population for all this taxing. A lot of businesses will suffer when we don't have any extra money to spend.
  • Leia (10/02/2016, 08:45) Like (2) Dislike (0) Reply
    save us obi won your our only hope
  • who don't hear will feel (10/02/2016, 10:04) Like (12) Dislike (3) Reply
    I want the NDP to literally kill ayo because ayo wouldn't listen.
  • SOLIDARITY (10/02/2016, 10:06) Like (14) Dislike (1) Reply
    LET US ALL BOYCOTT THE 2ND LAVISH OPENING OF THE CRUISE PIER PROJECT NEXT WEEK.
  • in the news (10/02/2016, 14:05) Like (4) Dislike (0) Reply
    only their friends and family eating
  • west (10/02/2016, 15:30) Like (12) Dislike (1) Reply
    tell um Andrew
  • THE ACCOUNTANT (11/02/2016, 11:00) Like (3) Dislike (0) Reply
    To those who are renting and can hardly afford to meet their monthly expenses, brace yourself, your rent will be adjusted as Government introduces this extra burden on property owners. If you have any doubts, ask the folks in the USVI.


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