Chamber urges no more delays in passing Income Tax Amendment Bill

The Trinidad and Tobago Chamber of Industry and Commerce is warning that delay-tactics regarding the passage of the Income Tax Amendment Bill will negatively impact an already fragile economy and the stability in this country's financial system.

In a statement it issued today, the Chamber says cross-border tax regulations are fast becoming the norm in global business.

It says this country's participation in the international trade and business landscape requires it to review and update legislation and to ensure processes are in place to address international transparency requirements. 

It says as such the T&T Chamber supports the Income Tax (Amendment) Bill, which is aimed at ensuring that this country becomes compliant with the international standard on exchange of information as well as other obligations under the tax information exchange agreement.