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FS advises Gov’t on decreasing debt rate
ROAD TOWN, Tortola, VI - Financial Secretary in the Ministry of Finance, Mr. Neil Smith, speaking at the 2012 Standing Finance Committee (SFC) deliberations, advises government officials on ways to lower the debt rate within the Virgin Islands and gain savings that can be used to foster another project.
Effective February 1: Import duties reduced!
ROAD TOWN, Tortola, VI – Effective today Wednesday February 1, 2012, persons importing goods into the Territory will see a reduction in their duty charges as they will only be required to pay duty on free on board costs as opposed to the previous practice of paying on cost, insurance and freight.
More than $13M cut in Public Service for reserve fund
ROAD TOWN, Tortola, VI – A recent decision by Cabinet to increase its reserve fund has led to a cut of more than 13 million dollars for expenditure in the public service, which is reflected in a 50 percent reduction in employees’ performance increments and seven percent of operational expenditure in government departments.
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