Finance Minister Colm Imbert says the Government earned $750 million from a tax amnesty it implemented this year.
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Furthermore, the Minister says the Government stands to earn over $600 million from the implementation of a higher tax regime for people earning in excess of $1 million in taxable income.
The Minister told the Parliament that calculations are showing that the country can earn up to $80 million this year alone, from individuals who fall under that new tax bracket.
He said that with respect to corporations, the calculations show that this country can get $560 million, from corporations that earn profits in excess of $1 million per year
He said he inquired from the Board of Inland Revenue about how much the tax amnesty yielded this year and was told the amount was $750 million.
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