Archive for the 'Finance' Category

No need for outside help

Experts on Imbert’s IMF, World Bank move

By Shaliza Hassanali
Saturday, April 23, 2016 – guardian.co.tt

Colm ImbertThere was no need for Minister of Finance Colm Imbert to engage officials of the International Monetary Fund (IMF) and the World Bank to provide advice on T&T’s fiscal policy.

This was the view yesterday of developmental economist Dr Ralph Henry and former minister in the ministry of finance Mariano Browne, following Imbert’s announcement on Thursday that World Bank officials are in T&T to assist and advise the Government on pressing matters, including a review of expenditure in all key areas.
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Battle against be-suited bandits

By Raffique Shah
April 21, 2016

Raffique ShahI find it almost amusing that some grocers who are caught dipping their greedy hands deep inside the inside consumers’ pockets, cry foul when their names and outrageously high prices are exposed through advertisements posted by the Consumer Affairs Division of the Ministry of Trade.

In immediate response to being named as selling certain foodstuff way above the norm in the business, they claim the prices attributed to their establishments were wrong, and they issued “corrected” versions that were between $5 and $10 cheaper-per item.
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E-shopping levy not a right click

Newsday Editorial
April 13, 2016 – newsday.co.tt

Online ShoppingTHE GOVERNMENT is proposing a seven percent levy on online purchases. Shoppers have described the move as unfair, but Minister of Finance Colm Imbert has defended it, saying it would ease foreign exchange pressures, reduce revenue leakage, and divert buyers to local products. But not so. The levy is one tax too many.
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Descent into imports-dependence

By Raffique Shah
April 05, 2016
Posted: April 10, 2016

Raffique ShahWhat I established last week was that Trinidad and Tobago, like most small island states that were once colonised by imperial powers, relies heavily on imported foods for its sustenance.

All our staples-grains (wheat, rice, maize), dairy products (milk, cheese, butter), sugar, edible oils, white potatoes, beans and pulses-come from abroad, mainly North America, the EU, Australia and New Zealand.
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Grow up, take responsibility

Deyalsingh’s tough message after austere mid-term budget

By Adrian Boodan
Sunday, April 10, 2016 – guardian.co.tt

Terrence DeyalsinghIt’s time that nationals grow up and take some responsibility for T&T, says Health Minister Terrence Deyalsingh.

Deyalsingh was at the time fielding questions from the media when he attended a health and fitness fair hosted by the Couva Point Lisas Chamber of Commerce, on Saturday, at the Chamber’s building at Camden Road.
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Online shoppers: 7% tax unfair

By JANELLE DE SOUZA
April 10, 2016 – newsday.co.tt

Online ShoppingThe seven percent levy on online purchases of goods and services scheduled to take effect by September will probably not slow down online shopping simply because local prices are too high.

Some regular online shoppers to overseas retail companies questioned the move by the Government to further tax online shoppers as they already pay a 20 percent duty and Value Added Tax on these items when they arrive in the country.
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Doomed to importing foods

By Raffique Shah
April 03, 2016

Raffique ShahRecently, there has been much noise over Trinidad and Tobago’s capacity to produce the foods that we eat.

I use the word “noise” instead of discussion or debate because so much of what is said and written is uninformed.
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Bankers and Bandits

By Raffique Shah
March 04, 2016

Raffique ShahI don’t know if we should be more afraid of banks and bankers or bandits and murderers.

Seriously.

Both strike when we are most vulnerable. They relieve us of our life’s savings, of what we have worked tirelessly to provide for our families, with a callousness that is chilling.
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Destiny in our hands

By Raffique Shah
January 27, 2016

Raffique ShahAs a nation, we can do nothing about the plunging price of oil except watch with alarm as crude slides below US $30 a barrel.

Even if we ramp up production, which has fallen by approximately 50 per cent over the past decade, it will make little sense. At this point, it might be better to leave the oil in the wells rather than sell it for peanuts.
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Citizens to pay more for food

No more VAT for 1,300 businesses

By Richard Lord
January 11, 2016 – guardian.co.tt

Colm ImbertFinance Minister Colm Imbert reads the price of oil from his cellphone while Prime Minister Dr Keith Rowley looks on attentively during the sitting of Parliament yesterday. PHOTO: MARCUS GONZALES

While an estimated 1,300 businesses will no longer have to pay Value Added Tax (VAT) from next month, thousands of citizens will have to dig deeper in their pockets to buy several items, such as rice (except parboiled and boiled), flour (except all purpose and wheat), coffee, orange and grapefruit juices, mauby, tea and tomato ketchup.
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