St Lucia manufacturers want Value Added Tax revision

Manufacturers in St Lucia have urged the Government to re-examine the Value Added Tax (VAT) that was introduced one year ago.



The manufacturers say that with empirical data and stakeholder feedback now available, the Government is in a position to make the necessary revisions to help deliver stability, jobs and economic growth.



President of the St Lucia Manufacturers Association Paula Calderon, says that one year after implementation of VAT her members continue to be plagued by policy and implementation issues that threaten their very survival.



She laments that the requirement to pay VAT upfront on imported raw and packaging materials, plant, tools, equipment and other supplies has adversely impacted the cash flow of many manufacturers.



Both the St Lucia Employers Federation and the St Lucia Chamber of Commerce have already called for a reduction of VAT, down from the 15 per cent introduced by government.



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