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PriceSmart wins
Posted: Friday, May 22, 2026
PriceSmart wins tax case against BIR
Under the methodology, the company calculated realised foreign exchange losses as the difference between the rate at which it purchased foreign exchange from banks to pay suppliers and the mid-rates at which its foreign currency liabilities are recorded on its books.
The company treated foreign exchange losses as deductible expenses and realised foreign exchange gains as taxable income. The unrealised foreign exchange gains and losses, arising from the revaluation of outstanding foreign currency liabilities, were treated as non-deductible and non-taxable respectively. In its return for 2016, the company claimed that its corporation tax liability was $20,089,759 with a claim for foreign exchange losses of $7,605,383.
Parliament to be prorogued
According to the proclamation, members may attend virtual sittings, if necessary, once approval is granted by the Speaker of the House of Representatives or the President of the Senate under established parliamentary guidelines.
The 13th Republican Parliament of Trinidad and Tobago officially began on May 23, 2025, with the ceremonial opening of the First Session at the Red House in Port of Spain.
However, the parliamentary term itself is often listed as beginning on May 3, 2025, following the April 28, 2025, general election and the formation of the new Government.
Parole Bill 2026, passed in Upper House
The Parole Bill, 2026, was passed in the Upper House on Tuesday, bringing the proposed legislation one step closer to establishing provisions for the early release of certain prisoners before the completion of their sentences.
Minister suggests Amplia could be on the chopping block
Jobs at Amplia Communications Limited could be under threat as Public Utilities Minister Barry Padarath says the state-owned TSTT subsidiary may be wound up, pending the outcome of an investigation expected to begin in the coming months.
We need to stop fight over heritage and start preserving it
Blind spots
Inspiring because restoring sight is among the most beautiful things medicine can do. There are few moments more moving than seeing a patient recognise faces clearly again, return to reading, regain confidence walking independently or simply look at loved ones without the fog that cataracts slowly impose over life.
Troubling because the sheer size of the crowd raised uncomfortable questions about access to our healthcare.
Policing symptoms of developmental failure
There is a discomfort many Jamaicans feel but struggle to articulate when they see police officers stationed inside schools. It is not hostility towards the police but a deeper societal question: what does it mean when law enforcement becomes part of a child's ordinary school experience?
The missing males: T&T's education imbalance
'Zero tolerance to school violence'
Dowlath: TTPS probing brutal beating of male student...
Alderman's leg damaged after being assaulted by students
Guaico Licensing Office closed after officer's crash death
Deadly morning: Two bikers die in crashes
Two motorcyclists were killed in separate crashes within hours of each other yesterday, including a Ministry of Works and Infrastructure employee who died in a collision along the Cumuto Main Road.
Molino and Jones clear the air following police detention
Police Complaints Authority Cites Importance Of Body-Worn Cameras For Officers
Beaten beyond recognition, body left in Manzanilla
WHEN police found the body of 23-year-old Raaian Ragoobar discarded beneath a tree along the Cocal Estate in Manzanilla on Monday morning, his face was so badly disfigured that he could not be identified. Nearby, a vehicle he recently purchased was burnt to a crisp and abandoned a few feet away.
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