AMCHAM T&T calls for clarity on Property Tax

The American Chamber of Commerce of Trinidad & Tobago (AMCHAM T&T) is concerned about the lack of clarity on the implementation of the proposed Property Tax.
AMCHAMT T&T understands the urgency of increased revenue collection and supports the need for a Property Tax. However, the re-introduction of any policy measure must not occur in an environment of uncertainty.  We urge the Government to provide details on the valuation and implementation of the Property Tax, particularly where it relates to uncovered plant, rigs, and machinery.

Government initiates first step towards reintroduction of Property Tax

The government has initiated the first step towards re-introducing Property Tax.

A statement by the Ministry of Finance today has outlined how citizens should go about submitting the valuations of their properties.

The following is the ministry's statement.

"As stated in the 2017 Budget Statement by the Hon. Colm Imbert, Minister of Finance, the Ministry of Finance advises that “Property Tax, will be put into full effect in fiscal 2017”.

Property Tax is governed by the Property Tax Act, 2009 and the Valuation of Land Act Chapter 58:03.

Government maintains ban of Brazilian meats

The Ministry of Agriculture, Land and Fisheries is maintaining the ban on meats from Brazil.

The ministry says Trinidad and Tobago's ambassador to Brazil Dr Amery Browne is speaking to agricultural officials there on the issue but for now the ban remains.

The following is a statement by the ministry:

"The temporary restriction on imports and retail sales of all meat products from Brazil remains in place pending the outcome of ongoing talks with the Brazilian government about its food-safety standards. 

Minister clarifies true amount that Petrotrin owes the Government

Finance Minister, Colm Imbert says the amount owed by Petrotrin to the Government is 1.269 billion dollars.

The Minister issued a statement Wednesday afternoon to clear up the figures.

"To avoid any misunderstanding, the Minister of Finance wishes to clarify the NET amount of taxes and royalties owed by Petrotrin to the Government of the Republic of Trinidad and Tobago.