It has emerged this week that the Bermudian business sector is unhappy with the government after it apparently failed to consult firms over proposed new changes to the Revenue Act.
Speaking to the Royal Gazette on Tuesday, the president of the Chamber of Commerce, Charles Gosling explained that whilst the amendments contained some good “housekeeping” measures, business has been left in a state of confusion as to the meaning of many of the new provisions.
Mr Gosling praised the establishment of a tax appeal tribunal intended to solve cases where individuals feel they have been overcharged for imported goods. He also welcomed a new process designed to help Customs establish the value of goods where an invoice is not available.
However, the CoC president told the Gazette that he remained disappointed over the “lack of consultation”, and observed that the question marks left hanging over the new legislation will now have to be addressed “after the fact.”
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