BUDGET POLICY 2023

Proposed Revenue Policy Measures For 2023
Most provisions of the Revenue Act 2016 have at present been introduced. Revenue collections
and compliance are gradually improving, notably for core domestic taxes. The scope for
expanding the tax base is limited: most taxes are already being collected, and the Ministry is
aware that introducing further taxes, or increasing rates from their current low rates, will
disproportionately increase the tax burden on vulnerable citizens and businesses, at a time when
livelihoods are recovering from the effects of the COVID-19 pandemic. The greatest scope for
revenue gains continues to be improving taxpayer compliance, both voluntary and enforced ...........