The Seychelles National Assembly has approved its new budget for 2010, with members of the ruling Lepep party voting in favor and with the opposition abstaining.
Finance Minister Fanny Faure who made the summing up on the budget discussions said that all the financial indicators prove that things are getting better in the country’s economy.
Faure added that the government has increased the salary of all employees by 4.3% and that this will cost the state some $2 million.
Faure further declared that in addition, the government will be providing $5.5 million for new promotions, increments and schemes of service and that the state will next year introduce a new scheme of service for teachers and health professionals.
Also Faure added that the new taxation system, which forms part of the second generation of reforms will be carried out over a three-year period and he declared that the government was reducing the business tax from 40 to 33%.
Regarding the new personal income tax, Faure said that already the National Assembly has five bills to consider.
He therefore expressed the hope that the bills will all be approved so that the necessary legal framework will be ready to enforce the new taxation system.
Source African Press Agency
