Property Tax To be Collected Next Year

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Property Tax To be Collected Next Year

The collection of property taxes will take effect from next year.

This will happened when the relevant legislation is proclaimed.

This was one of the high points revealed by Minister of Finance, Colm Imbert, during the presentation of the national budget in the House of Representatives this afternoon.

It was disclosed the revenue collected from this area will be used in the local government reformed system and will serve as a source of revenue stream for the regional corporations.

Government will also engage in discussions for the increase of the age of retirement from 60 to 65.

In 2024 gambling legislation will be fully proclaimed and Gambling Commission will operate, to attract local and foreign investment in that sphere.

Government is also moving forward with digitalising payment methods for two additional government agencies, the Environmental Management Agency and NEDCO.

65 million dollars will be spent next year on a school book grant which will help benefit 65,000 students.