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Increase payroll tax exemption to $15K- Hon Ronnie W. Skelton

-but said this should just be for persons earning under $23K annually
Opposition Leader Hon Ronnie W. Skelton (AL) has recommended that employees earning less than $23,000.00 annually be given an annual payroll tax exemption of the first $10,000 earned. Photo: YouTube
Currently, each employee in the Virgin Islands is entitled to an annual tax exemption of the first $10,000 earned remuneration. Photo:
Currently, each employee in the Virgin Islands is entitled to an annual tax exemption of the first $10,000 earned remuneration. Photo:
ROAD TOWN, Tortola, VI- Opposition Leader Hon Ronnie W. Skelton (AL) has recommended that employees earning less than $23,000.00 annually be given an annual payroll tax exemption of the first $15,000.00 earned.

According to Hon Skelton, the Government needs to do something urgently to help especially middle-class workers and small businesses, who he said are struggling.

Currently, each employee in the Virgin Islands is entitled to an annual tax exemption of the first $10,000.00 earned remuneration.

“Madam Speaker, again, there is a quick way to get some set of resources to some of these people. During our time in office, we gave $10,000.00 free, the first $10,000.00.

“You don’t have to give it across the board, give the first $15,000.00 to people who making under the 23,000.00 lifeline that you talk about. People who making above that don’t get it. Those are some of the things you could get resources into people’s hands quickly,” Hon Skelton stated at the Continuation of the Ninth Sitting of the First Session of the Fifth House of Assembly (HoA) on April 9, 2024.

‘I am not a bank’- Hon Skelton

The businessman and former Minister of Finance said small businesses are coming to him for help but he does not have the resources to help them.

“The small businesses, they coming to me for loans. I am not a bank. I don’t have that kind of resources but you try to guide them to the Small Business Bureau but when they get there the people at the front desk telling them there is nobody in those positions so it makes no sense coming.

“There are small businesses out there that need assistance.”

‘We cannot keep another party’

Hon Skelton said resources need to be put where they need to be, as he swiped at Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7).

“We have to, Mr Premier, we cannot keep another party,” Hon Skelton stated.

The Opposition Leader urged the Premier to save the next big party for the 70th Emancipation Festival later this year.

20 Responses to “Increase payroll tax exemption to $15K- Hon Ronnie W. Skelton”

  • A Capitalist Who Loves the BVI (16/04/2024, 10:46) Like (9) Dislike (5) Reply
    The real problem is the appallingly bloated government of this territory. Trying to lower the taxes for one group only makes them disinterested in how their government spends their money.
    • Break it Down. (16/04/2024, 11:53) Like (8) Dislike (7) Reply
      I agree with the increase. Poor people need relief. But it should be only for those who making $25.000 or less annually..Not agree with an increase across the board..
    • Real (16/04/2024, 18:13) Like (5) Dislike (0) Reply
      No one should be working for 23k in this day and age shamefull to even think of but guess who salary went from 100k to 200k this place is evil
  • ... (16/04/2024, 10:59) Like (3) Dislike (0) Reply
    a government built on taxing and seizing lol
  • Amen (16/04/2024, 11:46) Like (3) Dislike (0) Reply
    I agree
  • My Premier. (16/04/2024, 11:47) Like (9) Dislike (3) Reply
    That's why I wanted Ronnie as Premier. He don't bla bla and and a confusion maker. He knows how to move this country Forward...Shameful Tiffany in our corner living in regrets. Best she can do is bow her head and close her Eyes and cross the Floor...We need better.

  • nixon (16/04/2024, 12:31) Like (8) Dislike (5) Reply
    We got it all wrong. Follow progressive countries, abolish income tax all together. The suggestion here is to move the lower members of the society into a higher tax bracket sooner.
  • Ooohhh boiii (16/04/2024, 12:37) Like (2) Dislike (1) Reply
    Let’s get THIS. THING straight

    Is it $23000.00 per month AS WRITTEN. Or is it per Annum
  • good (16/04/2024, 13:08) Like (6) Dislike (0) Reply
    a good way to increase a bit of take home pay if combined with min wage increase
  • or (16/04/2024, 13:23) Like (11) Dislike (8) Reply
    Get rid of NHI.
  • @,or (16/04/2024, 14:57) Like (18) Dislike (3) Reply
    NHI is one of the best thing tjat happens to the BVI
    Without NHI a lot of us would be dead.
    • ?? (17/04/2024, 09:51) Like (1) Dislike (0) Reply
      I agree!
    • Nhi is a scam (17/04/2024, 13:20) Like (6) Dislike (1) Reply
      Nhi should be a set monthly rate it shouldn't be a percent based on your income. Why if you work over time you have to pay more for the same coverage or if you have a better job you pay more for the same coverage? Nhi needs a set rate every month and you will see people have more of their money staying in their pocket
  • Ronnie for Premier (16/04/2024, 15:57) Like (3) Dislike (1) Reply
    He won't dance away millions of our hard-earned tax dollars.
  • Out of touch! (16/04/2024, 16:05) Like (13) Dislike (0) Reply
    We should be ashamed to even announce that persons making 23,000 annually as a salary in this twentieth century!

    $30,000 annual salary can barely even pay for a two bedroom home, food inflation, taking care of children, transportation etc…

    Place this $15,000 tax brake for persons making $1 to at least $35,000. Come on man, let’s get REAL….

    You guys made sure your pockets will forever get fat, whether in office or not once given two solid terms!! Give the working middle and lower class a break!

    If you’re not going to be fair in your assessment, leave the thing how it is! Take your trips all over, while purposeful buildings don’t have water, a/c, pot holes in roads, a no sense of direction education system, and wasteful spending on things that don’t mean nothing!

    I tired!
  • Stealth (16/04/2024, 16:42) Like (1) Dislike (0) Reply
    Some countries pump black gold (oil), precious mineral , and other resources from which is the major sources of government funding/revenue., Most regional countries are resource-poor. Sugar was the cash cow for most countries. But sugar is history and now tourism is the driver of their economies. The bottom line is that all of these resource-poor countries generate government revenue fro taxes, fees, etc..Consequently, government needs a structured ,,fair, reasonable, etc system of levying taxes and fees, whether it is income tax,, payroll tax, etc.. An area that is rife for restructuring is land, property tax, etc..The BVI has a low debt to GDP ratio and has large needs but lacks the resources to fund them, ie,,physical infrastructure, education, health, social services, etc..As such, it must employ prudent long-term borrowing with sunset clauses to fund its need. Moreover, it must prioritize its needs. Some of the needs should be put before the voters in an election, eg,,Capital Improvement program projects listing with funding sources. The BVI can establish a bonding program and sell General Obligation bonds to fund projects. Without prudent borrowing, the VI will lag other locales in growth and development.. Perhaps,,the UK as the administering power can provide an allocation, seed money,,working capital capital, etc.
  • J@Stealth (16/04/2024, 18:36) Like (1) Dislike (2) Reply
    @Stealth, you are secretly and hiddenly trying to impose more taxes pun ah we wid increases on Land, our inheritance which is under duress and changing hands concerningly. Mek meh land alone. You are a slick talking with the pen or fingers snake oil salesmen. You are a plant, a Trojan horse for the useless politicians and you area not the only one,
  • enough (16/04/2024, 19:17) Like (1) Dislike (0) Reply
    Why he don't say payment NHI on 100% of your earnings, instead of seventy thousand max. The people that make over two hundred thousand dollars only pay on seventy thousand. But they want laws that protect them.
  • ?? (17/04/2024, 09:55) Like (2) Dislike (1) Reply
    I agree with Hon. Skelton of the payroll tax exemption on the first $15000, but it should be across the board. The reason being is that the "across the board" option makes it easier administratively for the Inland Revenue Department and all other stakeholders to manage the process.
  • xee (17/04/2024, 16:42) Like (2) Dislike (0) Reply

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