House to debate report on income tax bill Friday

 House Speaker Bridgid Annisette-George
House Speaker Bridgid Annisette-George

THE House of Representatives will sit on Friday to debate a motion to adopt the Report of the Joint Select Committee on the Income Tax (Amendment) Bill, 2018. The motion is filed in the name of Finance Minister Colm Imbert.

Imbert laid the bill in the House on May 25. The purpose of the legislation is to amend the Income Tax Act to meet TT’s international requirements coming out of TT’s 2015 mutual evaluation report under the 40 recommendations of the Financial Action Task Force (FATF).

Attorney General Faris Al-Rawi attended the FATF plenary sessions in Paris, France earlier this month. The bill also treats with TT’s obligations under the tax information exchange agreement with the United States and the Global Forum. The legislation requires a three-fifths majority for passage in the House and Senate.

This equates to 25 votes and 19 votes, in the House and Senate respectively. The sitting takes place at Tower D of the Port of Spain International Waterfront Centre from 1.30 pm.

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"House to debate report on income tax bill Friday"

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