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.
He denied the notion that the government sets up a tax amnesty only when it needs cash flow.
The minister has set a revenue target of $500 million for the upcoming three-month tax amnesty but he says he expects it will exceed that target.
He said he believes the TTRA will be in place by the end of the calendar year.
- Bavita Gopaulchan