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President Ali at the recently held 32 Annual General Meeting of the Private Sector Commission Limited has urged the private sector to encourage its members via education campaigns to honour its national responsibility through the payment of taxes.
The Head of State posited that it is not enough for companies to only be good corporate citizens. “It is good to do social services, but you can’t rob the treasury of taxes and believe that your small social services can compensate for robbing the treasury of taxes.”
The private sector was reminded that tax breaks and incentives are available through investment in certain sectors. Among the sectors that attract tax breaks and incentives are the agriculture and ecotourism sectors.
“In Region 10, we have a special regime, a legislation that was enacted in parliament on 25 years tax break. We know I’ve asked the minister of finance to do the same dispensation for region 2, region 9, and the Moulson Creek area, the next growth pole that we’re going to do.”
The need for the harmonization of corporate policy with the national development policy of the country was also underscored.