Zoe Walcott wants payroll tax threshold moved to $15K
Territorial At-Large candidate for the Virgin Islands Party (VIP), Zoe Walcott, said she believes there should be some changes made to the BVI’s payroll tax if the VIP is re-elected into office.
The BVI is widely known as a low tax jurisdiction, and while the rate of taxation has been set at zero for income tax, payroll tax still applies to all remunerations or salaries greater than $10,000 per annum. This essentially means that taxes are deducted from payroll income once someone earns at least $10,000 in a calendar year.
Walcott, who was speaking at the time at a VIP rally for the launch of the party’s Eight District candidate, Allen Wheatley, said the VIP has many strategies in store to address the cost-of-living challenges facing the territory.
She also stated she has a passion for listening to persons and for bringing forth ‘good and solid’ ideas that have been put to her. “One such idea that was put to me today — and I’m ventilating it because I’m going to lobby for it — is going to be to increase the PAYE (Pay As You Earn) from $10,000 to $15,000,” Walcott said.
Walcott explained that this basically means anyone making $1,250 per month or below will not be subjected to payroll tax any longer.
Addressing concerns that this will mean a shortfall for the territory’s treasury, Walcott said her fellow candidate, Allen Wheatley, whom she also described as a finance whiz, will help her to find new revenue sources to replace that income.
The political hopeful further shared that her proposal was just a small part of a bigger picture towards creating a vibrant and energised economy.
Greater emphasis on the BVI’s ‘blue economy’, Walcott explained, along with investments in tourism, were among some of the other economic initiatives to be implemented if the VIP is re-elected.
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Zoe, Zoe, that is not an original idea, you are clutching at straws. The problems of voters are more than payroll tax.
A payroll tax should be a tax on an employer for his payroll – not paid in sort by the employee. When it was introduced we were told that it would be passed so that employees would pay for a couple of years but that it would eventually all move to employers. It is time to move the employee portion to the employer – this means an effusive 8 % increase in salary this year for employees so most people won’t get a pay rise until next year but at least we will have a true payroll tax.
The payroll tax is a tax on jobs and needs to be abolished. Increase the annual license fee on off shore companies by $50 to replace it.. They wouldn’t even noticeb.
THAT IS WHY WE ARE GOING TO ELECT RONNIE INSTEAD OF YOU
Your time pass…You miss the bus!
The VIP only speaks money. They lack conscience.
WE WANT THE VIP GONE SO PLEASE DO NOT VOTE FOR ANY OF THEM
My Dear it was Ronnie Skelton and his NDP Team when he was finance Minister who advocated for the Payroll Tax Exemption to be 10K and He and his PVIM Team will move it to 15K. So its NOT your idea.
ALSO, It was Ronnie Skelton and his NDP Team when He was Finance Minister who advocated for free tuition for V.I. and Belonger Students at the HLSCC.
Soo… My Dear , Come again…
By the Way Bam, It will take a Ronnie Skelton and his New Team to increase ALL Social Security Benefits before the Corrupted VIP get their hands on whats left of the S/S monies to build Houses for themselves and Cronies All in the name of Afforded Homes. WE ARE ON TO THEM!!!!
Pay attention to the new and renewal incorporation numbers, where the long-term trend is down. Foreigners will not just pay up when the rules are getting tighter globally and other places are becoming more competitive. Government’s income is under threat, but they have done nothing to match their expenses to the income threat.
Zoe’s idea is OK, and will help the most vulnerable, but her party is tainted and so she won’t get my vote. In fact, anyone who has been connected with politics for the past generation won’t get my votes.
Don’t worry Zeo, Ronnie got this, go sid down and watch the master builder bring us back.
The truth is that the trust companies charge far more for collecting the fee than the government gets. Make them pay the $50. They make fortunes in BVI and none of the profit benefits the country.
200 thousands for drag race study????
why now? pay up the increments
We want that drag race study.
What’s the big secret?
Lets talk this issue. Head coach threatened civil servants for their own increments but he made sure he and his buddies got their fair share of our tax monies. In the dark during covid! I say its time ALL increments should be paid to us, no ifs or buts, better yet, NO voting for us!!We fed up of this onesided shitz show
???? ………. when at one bed room is $1000 .00 per month,…….. …… With so much single mothers.so what to pay light bill ,phone bill and buy food.
Ms. Walcott, it is OK for now. The $10,000 threshold works find for we the little pay people. You can do something else like pay the civil servants their increments, and review and increase their salaries. It is a shame shame what some of them are paid.
What they need to do is pay the hard working civil servant their increments and raise their salaries before election and stop leaving them for last. Those are the peopme who here living in the community and reaponders. Foolishness at its highest.
Don’t be FOOLISH!!!!!!
The Annual License Fee has just increased for the second time in a few years PLUS SEVERAL OTHER FEES!!!!
STOP ? DRIVING AWAY THE SAME COMPANIES THAT HELP THIS COUNTRY TO SURVIVE BY PAYING THE MOST TAXES VIA EMPLOYEES HIRED BY TRUST COMPANIES.
THAT IS ECONOMICAL SUICIDE!
That is a LIE!!
Trust Companies do not charge a high Registered Office fee since it would deter clients.
Who got $200,000 for a Drag Race Study and WHYYYYYYYY??????!!!!!???!!!
Where is the Study and was this unaccounted money in the COI?
This idea was stated by Ronnie Skelton in the last election campaign in 2019…why didn’t your government do it in the four years they were in office?
Tax return is what we need Zoey
The drag race track should be on the manifesto. See what St. Lucia brings to their country per year with this recreation activity,it’s in the millions. Hotel, restaurants, villas, car rentals, fish and chips shops, chicken and chips shop, burger shops, car wash, hair dressers, government landing fees, port fees, all get a piece of the pie.
Go back to the drawing board and get the drag race vision together,and implement the 15k tax free money when you get there, there are other people ideas you can work with, give the people their need.
Another thing, , then some people won’t complain about the bike rider are a nuisance to society. Young people need recreational spaces! It’s solve some of their problems.
Will anyone consider lowering the age to collect social security benefits to 60 instead of 65 years of age?
@ John
No when they are looking to raise it to 67. Listen out !
@@@ does this ring a bell. You ask Zoe and they have the damn nerves coming in front of you asking for x ??? As if our hard own tax dollars is theirs..
Please do not waste your vote on this woman. She will only work for her family and friends.
She once told me that she did not need my vote and I am going to keep her to those words.
Don’t vote for the VIP they are the most corrupt party in the BVI .
Ndp is not good for the bvi
You got my vote