VIPA to participate in Tax Policy training program
VIPA will be part of a team of government specialists attending a month training at the University of New South Wales to identify best possible tax regimes that Vanuatu can adopt, supporting the Government’s revenue generation goals in the National Sustainable Development Plan.
“Improving revenue on mobilisation to achieve development goals in Vanuatu” is the program theme that will see that participation of individuals from key departments including Finance, Customs and Inland Revenue and legal representatives.
VIPA’s participation will be through Mr Raymond Vuti, Manager for Investment and Promotion Division within the authority.
Although VIPA respects and supports any government initiative that encourages economic growth and development, the discussions and consultations that has happened with regards to introducing income tax has stirred mixed feelings within the private sector, many of whom are registered foreign investors of Vanuatu.
Therefore VIPA hopes that through this participation, concerns and opinions will be presented to the overall team to ensure that Vanuatu still remains an ideal destination for foreign investment.
Vuti says it is important to foster closer and effective collaboration between the business community and the Government.
“Improving revenue mobilisation through income and corporate tax will definitely have an impact on FDIs (existing and potential). To ensure balance is achieved between the business community and the Government, regular and effective engagements with other stakeholders is crucial” he stated.
VIPA Management is proud of having a representative for this training program and is confident that Vuti’s participation will have lasting benefits for the office as a whole.
The training commences on the 28th of September and will end on the 29th October 2017.