As the general election approaches, the introduction of a new tax is considered an extremely sensitive issue and a rare political tactic. Despite this, the Revenue Department moved forward last week to address concerns regarding a potential new departure tax on outbound travellers, based on a 40-year-old “emergency decree”.
The department confirmed it has no plans to introduce a departure tax. The public hearing, conducted through a questionnaire, is merely a “process required by law” to evaluate regulations.
The public hearing regarding a new departure tax has raised concerns among some as it is scheduled for May 3-17. The decree in question was enacted in 1983 to bolster state revenue and control capital outflows to help address trade deficits and maintain the country’s balance of payments, according to the department. Profit exemptions apply to specific groups,…
