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The governor and our fine legislature have increased gross receipts taxes starting today. http://stthomassource.com/content/news/local-news/2011/04/30/gross-receipts-tax-hike-takes-effect-sunday . Just so you will be ready for the cost of goods and services to go up this week.
Posted : May 1, 2011 8:57 pm
A 5% sales tax is now pretty low by stateside standards. The caveat is the "and services" part which is nasty. Not only do you pay 5% on stuff you buy here in the VI, but you have to also pay 5% of what the janitorial, pest control, IT etc. company that the store bought it from had to pay for their services.
Something had to happen though, the VI government, like most government's, can't control its spending so us resident's have been placed into debt by their actions. They get to spend the money, take credit for what "they've done" and we get the bill.
Sean
Posted : May 2, 2011 2:40 pm
a regressive tax a 5% sales tax would be more equitable
Posted : May 2, 2011 2:44 pm