Government not introducing new taxes in 2021 - Finance minister | The Nation

Finance bill to exempt small companies from company income taxThe Federal Government has no intention of introducing new taxes in 2021.

“The second principle is the need to reform fiscal incentives policies to help reduce proliferation of fiscal incentives by carefully assessing cost benefit of tax incentives and prioritise job creation, growth and incentives.

She said: “What we don’t have in the finance bill 2020 is increase in tax. There are no new taxes that are being introduced and there is no increase in taxes.“The bill also makes provisions to create a legal framework for the creation of a crisis intervention fund that will address crisis that may arise in future, while introducing provisions that allow for the recovery of donations made towards the Covid-19 pandemic and other potential crises.

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