Cayman Islands to raise tourism taxes, work permit fees
Caribbean News Now - Friday, August 10th, 2012 at 9:04 AM
Bush
GEORGE TOWN, Cayman Islands — Two days after scrapping plans to impose a controversial “community enhancement fee” on foreign workers, Premier McKeeva Bush has announced increased work permit fees and tourism accommodation taxes.
At a public meeting on Wednesday night, Bush said that the increase in work permit fees would bring in an additional $7.6 million for the government in the current financial year.
The increases will range from a modest 5 percent on work permit fees of between $1,000 and $2,999 to a whopping 35 percent on fees of $15,000 to $24,000 for top level employees.
Among other new revenue measures announced by Bush was an increase in the tourism accommodation tax from the present 10 percent to 13 percent. The departure tax will also go up by $10 per person.
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I have said for a long time that the level of work permit fees needs to be reviewed in BVI. That is not anti-ex pat; it is just that the rates have eroded over time with inflation and are now far too low. Compare our rates to the new top rate in Cayman – if my maths is right, their top fee is nearly 80 times larger? It will be interesting to see if BVI copies Cayman on this one.
It’s a worldwide mandate that whenever there is a deficiency in goverment due to poor administration the first thing to do is to ask to poor to pay more via Tax. The funny thing is that this will fix nothing, it will only give the currupt politicians more to feed on, support their lavish lifestyle at the expense of of the working poor.
At least he has givin the visitors choice come and pay an extra $5 for nothing or go to another more friendlier Island.
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