SOLOMONS TO REVIEW TAX, BUSINESS LAWS

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Goal to clear path for foreign investors

By Eddie Osifelo HONIARA, Solomon Islands (Solomon Star, Dec. 23, 2009) – In the Solomon Islands, Minister for Commerce, Industry and Employment, Francis Billy Hilly says the tax system needs to be revisited now.

Mr. Hilly was responding to comment made by Member of Parliament for Central Guadalcanal, Peter Shanel during the committee of supply into the 2010 budget yesterday.

Mr. Shanel said investors did not want to invest here because the tax regime does not make any better for them.

Mr. Hilly agreed but said it was a matter for the policy of government.

Minister of Finance, Snyder Rini said the Government is looking at bringing a new Company Act to Parliament.

He said the Ministry is also looking into the Customs and Exercise Act and Taxation Act.

Meanwhile, Mr. Hilly said his ministry is also looking at bringing a new Corporative Act to Parliament.

He said this in response to MP for North West Choiseul, Clement Kengava.

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