THE Portmore, St Catherine-based Sunshine City Chamber of Commerce has called for a reduction in some taxes, as Government prepares to deliver its annual budget this week.

It wants:

1. A reduction of personal income tax from 25 per cent to 20 per cent;

2. A reduction of corporate income tax for unregulated entities from 25 per cent to 20 per cent; and

3. Reduction of corporate income tax for regulated entities from 33 1/3 per cent to 30 per cent.

According to chamber President Norman Walker, an impact of a cut in taxes on the working populace, medium and small entities and and large enterprises would be:

1. An increase in the disposable income of employed individuals, which would will lead to an increase in spending, savings and investments resulting in a more efficient and vibrant economy;

http://www.jamaicaobserver.com/news/portmore-chamber-wants-cut-in-income-corporate-taxes_189117