March 13, 2025
If the Folks’s Nationwide Get together (PNP) is returned to Authorities after the subsequent basic election, Micro Small and Medium-sized Enterprises (MSMEs) can be exempted from paying company revenue tax for 3 years.
Opposition Spokesman on Finance, Julian Robinson gave the dedication on Thursday throughout his contribution to the 2025/26 Finances Debate.
He mentioned the transfer is to offer larger monetary flexibility for MSMEs to develop and develop. On this regard, the PNP would “exempt new MSMEs from company revenue tax for an preliminary three-year interval, with the potential for an extension to 5 years,” Robinson mentioned.
He shared that the initiative will lengthen to companies that began earlier than its implementation and are nonetheless inside their first one to 3 years of operation.
Robinson mentioned the coverage will encourage MSMEs to enter the formal economic system, permitting them to entry authorities help and institutional advantages with out the speedy burden of company revenue tax.
