Patrick Pruaitch

Committee urges Govt to broaden personal income tax

Chairman Sir Nagora Bogan when presenting the Taxation Review to the Treasurer Patrick Pruaitch today, says the review recommends that the current tax free threshold of K10,000 be increased to K20,000 as the budget condition allows.

He said the cost to revenue of a threshold of K20,000 is estimated to be about K560m assuming no other changes to marginal tax rates.

He said increasing the tax free threshold to K15,000 is estimated to cost K283 million.