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Fisheries Sector Tax Cut Helps Tonga's Economy

23 April 2013

TONGA - Tonga's struggling economy is to receive help through the exemption of its fisheries sector from a 15 per cent consumption tax on sales.

A government fund originally set up to help agricultural exporters will also be reallocated to the Ministry of Agriculture, under Sangster Saulala, to help increase agricultural production, said Tongan Prime Minister Lord Tu'ivakano, reports the FijiTimes.

The World Bank has predicted a 0.5 per cent growth for the Tongan economy in the coming years.

 

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