It is being projected that tax revenues will increase by $242 billion without any new taxes during the fiscal years 2025-2026 through to 2028-29.
The Government's Fiscal Policy Paper indicates that this is based on the government's GDP forecasts and the average tax to GDP ratio of 27 per cent.
Nominal GDP is programmed at J$3.48 trillion during the fiscal year 2025 to 2026 and $4.18 trillion in 2028-2029.
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