The Employers Consultative Association (ECA) says it is relieved that the FATCA legislation has finally been passed in the House of Representatives.
The ECA issued this statement on Friday.
"The Employers Consultative Association of Trinidad and Tobago (ECA) wishes to express its relief that the long-awaited legislation relating to the Foreign Account Tax Compliance Act (FATCA) has finally been passed.
The ability of our parliamentarians to put aside political differences, after much back and forth, and put the interest of the country first is indeed commendable and instructive as we strive for a more collaborative and cooperative approach to settling differences at all levels.
This is especially important as our country continues to navigate a difficult socioeconomic period and where we can ill-afford the risk of a disruption in international trade and commerce.
Having gotten past this very important piece of legislation, we would expect and are demanding that going forward, whatever the differences may be, at the end of the day, decisions will be made not only in a timely manner, but more importantly, that it will be made in the best interest of the people of Trinidad and Tobago.
It is therefore expected that our representatives will endeavour to consistently demonstrate a true spirit of collaboration and cooperation both of which we desperately need at this time.
The ECA is optimistic that any reciprocity of information sharing coming out of this legislation will contribute to curbing the disturbing levels of reported white and blue collar crimes and that we will ultimately strive to higher standards of ethics and morality in conducting business and in dealing with our precious national resources."