The Government of Saint Lucia is putting money back in the pockets of ordinary Saint Lucians.
Effective January 1, 2023, those earning up to EC $25,400 annually will not be required to pay personal income taxes.
Also, employees grossing EC $2,116 monthly, will not be subjected to Pay-As-You-Earn (PAYE).
This new money saving tax policy further demonstrates government’s awareness of the impact of global economic pressures on the average Saint Lucian household.
Collectively, eligible taxpayers will save EC $14 million every year and will benefit from increased levels of disposable income.
SOURCE: Office of the Prime Minister
Good vibes!!!
All that tax the government will lose has to come from somewhere. You know what means for people making for than $25,400 right? You will be taxed more to support those who aren’t paying. Yay.
This island should be a free zone
@Economist, tell your employer you want a Salary decrease so you will fall within the tax bracket of those being waivered.
@Economist, you are really clueless, given your name I would expect better. A higher tax allowance can affect everyone in a positive way. I am looking forward to paying a little less this year.
Sad situation for those earning more they will be taxed to compensate for the loss that a sure thing . Lucians you all crying, you all have alot more crying to do.
OH Really you seem to be suggesting the government will give up 14 million annually and not try to find it anywhere else. You are a moron if you think that is the case. Either taxes increase somewhere else. They borrow. Or they reduce public services.
The entire tax structure of St. Lucia needs to be revamped. Currently, we have a regressive colonial tax system yet we are beating our chest thinking that this government is progressive. All PM Pierre is doing is offering incremental bandaid solution to a much complex tax problem. Why don’t we have a luxuary tax on those mega-mansions in St. Lucia? Why are we allowing the hotels to pay 0% on import duties while we overburden the locals with astronomical import duties?
There is nothing to applaud about with this new tax plan. Salaries at or below the poverty line should not pay pay-roll taxes while hotaliers, coperations, marchants all should pay what is deemed a fair and satisfactory tax. Anyway, don’t expect the politicians to implement any fundamental tax policies to benefit the locals because they cannot bite the hands that feed them.
In true imbalanced fashion, they have failed to disclose in this release that they have now removed the first tax bracket which started at 10k and they have placed a limit on the allowances that persons could have claimed when they filed. I am sure these have an impact on some middle to high income persons. Not against persons making more being taxed a bit more to compensate for those making less but the net savings is not 14million as mentioned because that windfall is coming from other persons who will now be taxed more. Would like to now what the real impact is to include the other initiatives mentioned.
Is it the rich will always be bewitch,and peter will pay for paul..