Financial Secretary, Simon Wilson was the guest speaker at the Rotary Club of West Nassau on Thursday where he spoke about the government’s tax policies.

Wilson told those in attendance that most of the 55,000 properties registered with the government are in real property tax arrears. “We have a strategy in place to over a period of time to reduce those arrears considerably.”

He also spoke to the implementation of corporate income tax on entities with over 750 million Euros in revenue. Wilson said, “those entities will pay a nominal rate of 15% on gross income. That is gonna provide the government with resources of around 1% of GDP (Gross Domestic Product). So we feel pretty confident that b fiscal year 25-26 we would have achieved that target of 25% of GDP.”

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