Government has once against extended the tax amnesty…this time to June 30th.
Finance Minister, Colm Imbert, in making the announcement in the senate on Thursday, said the extension is specifically being done to ensure those supplying goods and services to the government/public bodies are up to date with their tax payments.
Imbert said now that the Public Procurement Act is fully proclaimed, attention must be given to Section 29 1(b), which states that a procuring entity must ensure that suppliers and contractors have fulfilled their obligations to pay all required taxes and contributions in T&T.
He said this was discretionary before.
“Most state entities would require people to provide a tax clearan ce certificate but sometimes there was some discretion applied. There is no longer any discretion, so any supplier or contractor who wants to supply goods and services to the Government, or a state enterprise, or statutory authority, public bodies, needs to take note of this fact, that a procuring entity shall ensure that suppliers or contractors have fulfilled their obligation to pay all required taxes and contributions in Trinidad and Tobago.”
He added: “Having proclaimed the Act and being aware of that, Cabinet decided to allow businesses, especially small businesses who are always having trouble with their accounts, a further extension of the tax amnesty. I signed the order and the amnesty is extended to June 30.
“But the particular purpose is for persons who will be supplying goods and services to the Government or public bodies to make sure their taxes are paid and they’re up to date on payment of this, or they have made — and the law allows for this — suitable arrangements to clear off any outstanding taxes they owe.”