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VIP TAX BREAK REMAINS
Posted: Wednesday, October 7, 2020
VIP TAX BREAK REMAINS
Taxation, then, as a policy instrument, was used to either encourage or discourage car imports. In 2016, government allowed concessions on certain hybrid and CNG vehicles to encourage a move from petroleum-based fuel, he noted. This cost the State a loss in revenue of up to $450 million.
Govt hit for vehicle taxes as Parliamentarians enjoy concessions
A November 2019 letter from the ministry to the Customs and Excise Division stated Imbert, like all other Parliamentarians, was exempted from Value Added Tax (VAT), and motor vehicle and customs duty fees totalling $454,833.27 on a Mercedes Benz GLE 450.
PM: Forex needed for medicine more than needed for cars
THE Prime Minister has responded to car dealers' complaints over measures in the budget negatively affecting the industry saying the use of foreign exchange (forex) to purchase medicine takes precedence over the purchase of vehicles.
PM: Govt won't allow gas monopoly
During Monday's Budget presentation, Minister of Finance Colm Imbert announced the liberalisation of the fuel sector as well as the intended sale of all NP gas stations, with operators to be given first preference. However, this has brought fear of a monopoly among private entities and increased costs at the pumps as a result for the public.
PM: Best budget by this Government
Economist Arjoon supports port privatisation
"We failed to dredge the port and upgrade the infrastructure at the port, and as a result, the large shipping vessels coming out of Asia through the Panama Canal could not be accommodated here – Panamax and Supramax vessels."
Don't rule out foreign investment for port
Prime Minister Dr Rowley on Tuesday who said, "You talk to anybody in TT who use the port, and the conversation more than likely will tell you about problems. What privatisation will do is to bring private sector resources and management in to the operation of the port so that TT, a nation that has lost ground to Jamaica and other places in the region, that by operating the port differently, we'll try to regain that ground so that this important aspect of our economy will grow in importance."
Port privatisation not enough says Chamber head
While President of the T&T Chamber of Industry Commerce Reyaz Ahamad welcomes privatisation of the port of Port-of-Spain, he said the Customs and Excise Division must step up its game for the entity to be fully functional and effective.
Accountant welcomes Property Tax, says it will be fair
"I think it's time the Government implement the property tax. It's a tax levied against most countries in the world. It's a very efficient way of collecting taxes," Pierre said.
Sprangalang's funeral on Saturday
Dennis "Sprangalang" Hall's funeral will be held on October 10 at Belgroves, Coffee Street, San Fernando at 2 pm.
PM: Public sector hiring freeze can be eased in special circumstances
Explaining that the COVID-19 pandemic has bolstered Trinidad and Tobago's needs in the health care sector, the Prime Minister said it's understandable that emergent situations that can't be left untended.
Sagewan: Budget good, but Imbert must be held to account
However, she said, it is the responsibility of all of us to hold him accountable throughout the year for the delivering of these items that are required, in order to translate the positive aspect of this budget into the deliverables we need, once we overcome this pandemic, to stimulate growth once again...
BATT: 2021 budget confronts challenges, proposes solutions
The Bankers Association of Trinidad and Tobago (BATT) believes the 2020/2021 national budget was responsive to the challenges facing the country.
WITCO chair: We will have to adjust
In light of the government raising excise duties on locally manufactured tobacco products by 20 per cent, the Chairman of the West Indian Tobacco Company (WITCO) Anthony Phillip has expressed that the company would have to adjust.
Raising the bar: Tobago chocolate wins Europe award
Last Saturday, at the European Bean-to-Bar International Chocolate Awards, held virtually, Dove's Tobago Estate Chocolate Laura won silver in the plain/origin milk chocolate bar category. The award qualifies Dove's product for the world chocolate finals later this year.
79 new covid19 cases, 1 death on Tuesday
THE Ministry of Health reported that a total of 79 people tested positive for covid19 on Tuesday. The total number of active cases is now 1,812.
Trini in Spain asks Govt: Why the silent treatment?
Courts blocked from getting reports on remand prisoners
Wife sues State after husband shot, killed by cops
The common-law wife of a man from Laventille, who was shot and killed by police along with four of his friends in 2018, has sued the State over his death.
Point Fortin arsonist on the run
A hunt has been launched for a woman who police suspect burnt down a house on Sunday and a clothing store Monday in the borough of Point Fortin.
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