2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 103
• In year three: we will substantially complete the payment of arrears and make further significant reductions in Customs and excise duties.
Revenue-generating Measures
To facilitate this, we are proposing a number of measures that are designed to generate additional revenue to the Government. Specifically, we are increasing:
• the taxation of gaming house activities through the introduction of a sliding scale of rates applied to taxable revenue, namely: up to $ 20 million, a rate of 20 per cent; between $ 20 million and $ 40 million, a rate of 25 per cent; between $ 40 million and $ 60 million, a rate of 30 per cent; between $ 60 million and $ 80 million, a rate of 35 per cent; between $ 80 million and $ 100 million, a rate of 40 per cent; and over $ 100 million, a rate of 50 per cent;
• In year three: we will substantially complete the payment of arrears and make further significant reductions in Customs and excise duties.
Revenue-generating Measures
To facilitate this, we are proposing a number of measures that are designed to generate additional revenue to the Government. Specifically, we are increasing:
• the taxation of gaming house activities through the introduction of a sliding scale of rates applied to taxable revenue, namely: up to $ 20 million, a rate of 20 per cent; between $ 20 million and $ 40 million, a rate of 25 per cent; between $ 40 million and $ 60 million, a rate of 30 per cent; between $ 60 million and $ 80 million, a rate of 35 per cent; between $ 80 million and $ 100 million, a rate of 40 per cent; and over $ 100 million, a rate of 50 per cent;