The Interim Stabilisation Levy (Amendment) Bill, 2015, is to be given its three readings and passed at a meeting of the Anguilla House of Assembly on Tuesday, December 29. The Bill, which had been renewed several times at year-end, by the previous Anguilla United Movement Government, will take effect again as from January, 2016.
The levy, contributed to by employees and employers, fetches some thirteen million dollars annually and has been a major pillar of the Government’s budget. It has, however, been roundly criticised as being an unfair tax to the point that the Anguilla United Front Government, one of its foremost critics, had promised during the election campaign to remove it from among the tax and fees structure. Since then, however, the AUF Government, noting its contribution to the budget, has undertaken, with much regret, to maintain the levy, having been unable to find a replacement for the unpopular revenue source.
Another piece of legislation coming before the December 29 sitting of the House of Assembly is the Tax Information Exchange (International Co-operation Bill) 2015, which will also be given its three readings and passed.
The 2016 Government budget calls for Recurrent Expenditure of EC$225,335,277. Recurrent Revenue is estimated at $219.87 million, representing an increase of 12.67% over the 2015 estimate. The budget is heavily dependent on some eleven new tax measures and increases in various fees.
