State ‘earns’ additional SRD 5 million

Legislators on Monday amended the Income Tax Law. As a result of the amendment the State will earn an additional SRD 5 million every year. The amendment will go into effect on January 1, 2017. It is clear that many legislators from the coalition as well as the opposition could not comprehend the subject matter due to its technical nature. “It is not about a measure aimed at raising income but about correcting a fiscal error,” said Finance Minister Gillmore Hoefdraad. “We are not taking away any income from anybody, We ate just not giving back what belongs to the State,” assured Minister Hoefdraad. Due to the high number of restitution requests, about a thousand every year, the Tax Office was turning into a payment office. “We have initiated the reforms.” The opposition, however, insisted that the measure will affect the people. By keeping about SRD 5 million, money is being withheld from the people. MP Patricia Etnel (NPS) and MP William Waidoe (PL) expressed their criticism. MP Chandrikapersad Santokhi (VHP) deemed the amendment as one of the measures that are not aimed at boosting purchasing power in order to get through the financial crisis. He referred to the most recent report from the International Monetary Fund (IMF) to support his statement. But the head of parliament made it clear that there was no link between the document and the parliamentary discussion. MP Andre Misiekaba, leader of the faction of coalition MPs, pointed out that it was clear that the opposition was seizing the opportunity to make irrelevant political statements. “The opposition has not understood the law. They used the law as a stage to say other things.” The amendment was adopted after 31 MPs had voted in favor of it. 14 MPs had voted against it.