Former Assessor calls for tax overhaul
A former tax assessor who is calling for an overhaul of the Island’s tax system is asking the Treasury Minister to set up a qualified commission to explore his concerns.
Mark Solly believes such a body would assess all options with a view to introducing what he calls a ‘fairer system of income tax in the Island’.
He says more than 8,000 companies which are owned or partly owned by people living here pay zero tax
A resident can accumulate any or all of their income in a company and pay no income tax, although all of us use the same facilities which taxation helps fund.
Mr Solly believes this is unfair and is widening the gap between the wealthy and the rest of the population:
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