Castries’ SLP government needs to empower equity to safeguard the future
The Lucian People’s Movement (LPM) says that the Government of Saint Lucia’s options to forego millions and discount outstanding payments to Inland Revenue are a cause for concern.
The LPM position is simple. Instead of losing EC$32.6 million in outstanding hotel accommodation tax (HAT) payments paid by visitors and not remitted to Inland Revenue, the government has missed an opportunity to be partial owners and inherit equity in hotels and business consortiums in the form of preferred shares on behalf of the people of Saint Lucia.
The LPM states that the primary objectives of this proposal are as follows:
- Establish on-location oversight for day-to-day operations, and participate in high-level decision making
- Play a sensible role in assisting hotels and business consortiums to achieve compliance and pay Inland Revenue on time
- Upon meeting objectives, turn over government’s preferred shares to the entities in question, with interest, payable to Inland Revenue
- Should all else fail and liquidation be required, give the government and people of Saint Lucia the first piece of the pie
The LPM calls upon the Government of Saint Lucia to protect the interest of the people of Saint Lucia, by initiating serious measures in the collection of hotel taxes, which is vital to powering the engines of economic growth.