Budget 2022: Government introduces Pandemic Levy

Government is set to introduce a one-off Pandemic Levy on workers earning above $6250.

 Workers shall contribute one per cent of their monthly earnings for 12 months.

Some businesses, including those who retail petroleum products, telecommunications providers, commercial banks and providers of general and life insurance will pay 15 per cent of their net income during the next financial year.

The levy which will go towards Government’s  COVID-19 $1 billion bill is expected to raise a total of $120 million over the course of 12 months.

Read the full story in Monday’s e-paper.