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Policy
| Policy ID: | EQ268 | Policy: | Abolish VAT in 2 stages |
| Category: | Tax | SubCategory: | Tax |
Description and Support Documents
In first 6 months reduce VAT to 10% and remove VAT completely within 2 years .
VAT is a direct tax that has an unfair impact on the poorest in society. For example the poorest pay on average 12% of their income on VAT, while the richest 10% pay on average 5% of their income.
Removing VAT would stimulate small business by cutting their retail price by 20%. It would mean that introducing a living wage would not have a detrimental impact on smaller businesses. It would put more money in the pocket of the poorest.
Policy Paper 
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Support Documents 
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Corresponding Charter Article
C10. Justice
Society should be established on the basis of natural justice. Everybody will be protected by and have access to a fair, honest, and efficient justice system
Amendments
No results