Budget 2003

Budget 2003

Overview of Fiscal Measures

• Income Tax
• Income tax due by foreign permanent residents
• Duty on documents
• Registration tax & road license for racing cars & vintage cars
• Cigarettes

Measures affecting Tax Administration

• Import duties
• Levies
• VAT
• VAT & IT Penalties
• Measures that benefit entrepreneurship
• Taxation on farmers that produce fruit and vegetables
• Procedures to reduce cases before Small Claims Tribunal

Environmental Measures

Monetary Measures

• Removal of Exchange Control requirements

Fiscal Measures with Social Implications

• Capital means test
• Increase in supplementary allowance
• Payment for maintenance of children in cases of marriage separations
• Increase in childrens allowance for those with three children and more
• New procedures in the working of tax calculations on arrears of pensions
• Increase in the cost of living for pensioners
• Casual social assistants
• Financial assistance for parents with children under two years who attend child day care centres

Reference

• Budget Speech

(in Word format)

Appendices

(in Word format)

Statements

A, B, C (in Excel format)

Economic Survey January – September 2002

(in PDF format)

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