BASSETERRE, ST. KITTS, MAY 22ND 2014 (CUOPM) – The Labour Party Administration of Prime Minister the Rt. Hon. Dr. Denzil L. Douglas in keeping with its policy of ensuring that local businesses enjoy the benefits of a growing economy, has granted a number of concessions.
On Monday, the Cabinet, under the chairmanship of Prime Minister Douglas, considered and approved four applications for tax concessions from small local businesses.
“Strong support was provided for these four small businesses operating the fields construction, manufacturing and event management with waiver on a range of taxes on materials, tools and equipment,” Minister of Information, Sen. the Hon. Nigel Carty said in the Post Cabinet briefing.
He said the Government continues to believe that the private sector is the engine of growth of the local economy and that every reasonable effort must to be made to support the growth of the sector, particularly the small business subsector.
Deputy Prime Minister the Hon. Dr. Earl Asim Martin emphasized that the growth and long-term sustainability of the economic sector are ultimately dependent on the successful operation of small business ventures and the creation of jobs and other economic opportunities arising from the business ventures.