13 Dec 2005

Solomon Islands Finance Minister outlines ideas on tax reform

8:23 pm on 13 December 2005

The Solomon Islands Minister of Finance, Peter Boyers, has called on the community to work with him to create a better tax system.

The Minister says tax reform is part of the Government's broader plan to improve economic prosperity and the wellbeing of all Solomon Islanders.

He says recent economic improvements are pleasing but they are not enough with many Solomon Islanders continuing to endure much hardship.

Mr Boyers says the current tax system is unfair and hard to understand and consequently is bad for business.

The Minister says possible changes include a single low rate of import duty; an end to import duty exemptions; a new Value Added Tax under which everyone would pay the same rate and changes to income tax.