Finance Minister Fayval Williams assures that government intends to roll back the asset tax

Finance Minister Fayval Williams has assured that government intends to roll back the asset tax.

She made the comment while responding to reactions from opposition members in the lower house today, as parliament debated a bill to amend the asset tax.

As it relates to the amendment, Mrs. Williams explained the payment date change from March to April, takes effect with the 2025 assessment year.

She noted that the change in the timing of payment of the tax will ease the burden on compliant entities.

The bill was passed by the lower house and will next go to the senate deliberation.

Financial institutions have long lobbied for government to review, or even abolish, the asset tax, citing negative impacts on operations and annual earnings.