The Tobago House of Assembly (THA) wants $4.72 billion to run Tobago's affairs for the financial year 2019/2020.
Of that sum, the THA is projected to collect $212.9 million in taxes and non-taxes in Tobago.
This from Finance and the Economy Secretary Joel Jack as he presented the draft estimates for revenue and expenditure at the THA's 27th Plenary Sitting held in the Assembly Chamber, Jerningham Street, Scarborough on Monday, June 24.
Finance Minister, Colm Imbert says that billions of dollars are being held up in the Tax Appeal Board.
Speaking to members of the media Friday morning, Minister Imbert expressed his hope that the three-month tax amnesty, starting from mid-June, would push persons to withdraw their matters from the Tax Appeal Board and pay their taxes.
The Minister explained that the government wants a clean slate when the Trinidad and Tobago Revenue Authority (TTRA) comes on board hence, its decision to implement a tax amnesty.
The Education Ministry will need over $5 billion to complete 161 schools whose construction are still incomplete - plus it also needs whistleblower law and policies to prevent nepotism in agencies under its purview.
Finance Minister Colm Imbert is denying a media report that his ministry has been “arbitrarily” determining funding for Carnival whilst having no transparent processes for application and receipt of Carnival funding by entities.
In a statement issued Tuesday morning, the ministry said that all requests for funding to the ministry must be document-supported and submitted by clear deadlines.
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Minister of Finance Colm Imbert and PSA president, Watson Duke, have agreed to draft a Memorandum of Understanding on the structure of the proposed Trinidad and Tobago Revenue Authority.
The decision came via a meeting of the ministry and the PSA on Wednesday.
Legislation on the authority is now before a Joint-Select Committee of Parliament and requires a special majority vote.
Minister Imbert said the two parties discussed issued of job security and employee benefits, as well as union representation, the health plan and pension plan.
The Ministry of Finance says a ban on the importation of certain types of seeds, is not a new initiative.
The ministry issued a statement on the ban on Wednesday.
"The Hon. Colm Imbert, Minister of Finance, has taken note of recent commentary on the importation of certain items into Trinidad and Tobago, and the mistaken belief that these import restrictions have only recently occurred.