ST GEORGES, Grenada, Jul 31 (CMC) – The Grenada Cabinet has approved the establishment of a Legislative Review Committee as part of the implementation process for the Value Added Tax (VAT) and Excise Tax.
It will review draft legislation to reflect clear policy direction and to ensure that the tax is effective, fair and balanced, both for administrative and commercial purposes, according to a government statement.
The review process is expected to last at least three months.
Legislators are hoping that the process could be ready for the smooth passage in Parliament by March 2007.
The Committee comprises members of the VAT and Excise Tax Implementation Team, a senior member of staff from the Customs and Inland Revenue Department, the Ministry of Legal Affairs and a maximum of three private sector representatives, to be determined by the Ministry of Finance.