Peg oil at US$40

Service station dealers have vociferously complained that the price set by the Government for the various fuels cut into their margins, leaving them no room to cover their expenses.

The recommendations are contained in a list released by Amcham in which the business body said that it is concerned about the country’s growing debt burden and believes that the curtailment of spending should be an area of high priority.

It suggested government begin formulation and adoption of fiscal rules (in the area of debt, budget balance, expenditure, and revenue) immediately and have them implemented no later than fiscal 2019.

Amcham said debt that will be incurred due to Government- to-Government arrangements with delayed repayment terms or moratorium periods needs to be explicitly stated and monitored as part of Total Public Sector Debt. It said that overdrafts of the exchequer account should also be included in this calculation.

It called for the implementation of an effective transfer pricing regime after stakeholder consultation and similarly for Government to involve stakeholders in the re-introduction of the property tax, particularly on industrial property.

It wants a procedure for an Advanced Tax Ruling System; Alternative Dispute Resolution of Tax Disputes and suggests that the Minister of Finance review plans for the imposition of an Online Purchase Tax (OPT) and replace it with the $10 Airway Bill fee, observing that legislation for the Airway Bill fee is already in place.

According to Amcham, the imposition of both the OPT & Airway Bill fee would be onerous for companies which depend on just in time delivery of goods.

The business body recommended that Government reclassify ICTS and internet enablers such as smartphone devices under the Computer Laptop and Tablet Duty Exemption category as part of the public sector digitisation project; and promote the use of alternate, technology-based channels for the delivery of Government services with a view to deriving improved cost and efficiency profiles going forward.

In the area of National Security, Amcham says the negative impact of crime is far-reaching and every day the social, psychological and economic consequences are borne by communities, businesses and the country as a whole.

It is calling on Government to take steps to secure the appointment of a Commissioner of Police; provide an update on initiatives for the electronic monitoring of offenders and establish a DNA bank; strengthen the Fraud Squad and the Cyber Crime Unit; address the shortcomings at the Forensic Science Centre; implement adequate support mechanisms for victims and officers and implement recommendations for Prison Reform as well as bring forward legislation related to the fight against crime.