In the commerce sector, the budgetary objectives underpin employment and strengthen the national economy. Decreasing labour taxation will increase the purchasing power of consumers and reduce the tax wedge. Contributions to promote the international competitiveness of domestic trade must also be increased.
Month: August 2021
The retail sector is growing rapidly this year, but it will gradually slow down to correspond with the rate of growth before the pandemic. Employment rates will not return to the level in 2019, and the need for improved operations and automation remains due to international and domestic competition. The multiple tax wedge of services raises prices and weakens purchasing power. Lighter taxation of work should be one of the primary efforts during the remainder of the current government’s term.