World Bank economist says income tax in Vanuatu – not such a bad idea
World Bank economist Kim Edwards commented recent news that Vanuatu Council of Ministers adopted a controversial report from its Revenue Review Committee, which will essentially be paving way for income tax to be introduced.
According to Kim Edwards, introducing the income tax, quite a controversial thing by itself, and strongly opposed by the majority of business owners and ordinary people in Vanuatu, might be not such a bad idea.
“Overall, I think it is a good idea. Obviously, the devil will be in the detail, in the implementation, but I think that income tax is something fairly standard across the Pacific, and so Vanuatu in that respect will be moving in line with other Pacific countries,” he said.
He also noted it is hard to predict exactly what effect the Ambae Island crisis will have on Vanuatu’s economy and the government’s grand plans.