 In St. Lucia, businesses are required by law to remit value-added tax charges on their products and services to the government of St. Lucia. Failure to do so can attract fines and penalties. Let me say that the government is looking at the laws as they relate to payments of that income tax, etc. Particularly when the money has been deducted, has been taken either from the employee or has been taken either from the purchaser. The government is looking into these laws because it cannot be fair. It cannot be fair that if money is taken away for a purpose, it's not given to the full purpose that it was taken. So we're giving that amnesty, we are waiving all these penalties, we are waiving all these interest charges, we are waiving all these fines, but we're saying to the business community, let's work together so you can benefit and we can benefit. The economic shutdown caused by the COVID-19 pandemic in 2020 made it harder for local businesses to generate revenue and meet their financial commitments. Interest on unpaid VAT penalties, along with outstanding VAT remittances to the government, exceed 100 million EC dollars. We are saying that the people who collected VAT and did not give it back to the government, there ought to be penalties and fines and interest on that payment because you collected it from the government, you ought to give it back to the government. For the people who did not do that, the government is saying we are going to waive all these penalties and all these fines and all these interest, value of over 100 million dollars. Prime Minister and Minister for Finance, Hon. Philip J. Pierre, empathize with the financial challenges confronting St. Lucia's private sector. With the support of his cabinet of ministers and following consultation with the government's fiscal policy makers, the Prime Minister has decided to waive all unpaid VAT penalties owed to the government. That is the dual approach which the government is taking. So we are saying we are going to help the consumer by removing the VAT on billy materials, on some billy materials, selected billy materials. We are saying to the merchants that the consumer is getting a break, we are also giving you a break. We are saying to you that you owed the government, you owed us because that money was taken, that was deducted from, was added to the cost of the goods and it ought to be given back to the government. It wasn't given. So we are saying to you, all the penalties, all the fines, forget it and pay us what you collected. Collectively, St. Lucia's business sector will save more than 170 million EC dollars. Businesses must settle their outstanding tax payments no later than May 1st, 2024, to become eligible for Prime Minister Pierre's generous VAT amnesty.