Opposition spokesman on Industry and Commerce Peter Bunting is calling on the government to raise the General Consumption Tax (GCT) threshold for small businesses.

Mr. Bunting’s call came after Finance Minister Dr. Nigel Clarke revealed in parliament today (Oct 23) that more than 90 percent of GCT collected by the government comes from just 30 percent of its registered business cohort.

The Opposition Spokesman said removing small businesses that make negligible contributions from GCT obligations, would remove a lot of bureaucracy from the system.

He says the government must look at a modest rising of the threshold for micro, small and medium sized enterprises.

In response to Mr. Bunting’s call, Finance Minister Dr. Nigel Clarke said the government is open to raising the threshold.

Dr. Clarke explained that if the government is to follow through on the opposition’s suggestion, there are a few issues that must be considered.