III. Tax Reform

The Republican Party of the Virgin Islands proposes that changes must be made in the tax laws of the Virgin Islands. Among these changes is the elimination of the gross receipts tax and import duty tax. The present inequality that exists in the assessment of property taxes must cease. We believe that elimination of these restrictive taxes will create a healthier economic atmosphere in the community. A more diversified tax structure should be implemented.

We also are of the opinion that no issue of general obligation bonds should be valid until Legislation authorizing such an issue has been submitted for approval to the people of the Virgin Islands at a general election, and approved by the majority of those voting thereon. The questionable procedure of obligating future administrations in order to avoid fiscal responsibility must cease.

The Republican Party of the Virgin Islands will strive to prohibit all hidden taxes.