Government to Undertake Review of Taxation & Duty Legislation
The Government of Montserrat will carry out a review of major taxation and duty legislation.
Premier the Honourable Joseph Farrell says the Government is already getting support from the Caribbean Regional Technical Assistance Center, in updating the Income and Corporation Tax Act to modernize it and make it more fit for purpose.
The current Harmonized Commodity Description and Coding System Commonly referred to as “H S Code” used by the Customs Division is also to be updated.
In delivering the 2020/2021 budget on Thursday Premier Farrell announced that the Government will review the current tariff rates on some important items within the next six months.