2 Dec 2011

Solomons' government cuts income tax for all wage earners

2:30 pm on 2 December 2011

From next month wage earners in Solomon Islands will pay less tax.

The Minister for Finance and Treasury, Rick Hou, says the government will increase the income tax threshold from just under eight thousand Solomon Islands dollars to just over 15 thousand from the beginning of next month.

The Solomon Islands Broadcasting Corporation reports Mr Hou saying the personal income tax exemption for Solomon Islands has been low in comparison to other tax jurisdictions within the Pacific region.

He says it's remained unchanged for more than a decade and has become more pressing as the prices of goods and services have rapidly increased.