The Parliament will meet in an extraordinary session next week to debate a motion to annul the recent changes made to Value Added Tax.
The motion is to be presented by Tabaquite Member of Parliament Dr Suruj Rambachan.
A statement from the Parliament reads:
"In accordance with Standing Order 13(3) of the House of Representatives, there will be an Extraordinary Sitting of the House of Representatives to be held on Tuesday March 8, 2016 at 1:30 p.m.
The business to be transacted at that Extraordinary Sitting of the House is the Private Motion, “Be it Resolved that the Value Added Tax (Amendment to Schedule 2) Order 2016 be annulled.”
At this Extraordinary Sitting, no other business shall be transacted."
The following is the complete motion.
1. WHEREAS it is provided by Section 8(4) of the Value Added Tax Act, Chap. 75:06, that the Minister may by Order amend Schedule 2 of the Act;
AND WHEREAS Schedule 2 of the Act prescribes the goods and services which are deemed to be “zero-rated” and therefore attract no taxes;
AND WHEREAS the Value Added Tax (Amendment to Schedule 2) Order 2016 was published on January 29, 2016 by Legal Notice No. 17;
AND WHEREAS this Order has drastically reduced the quantum of goods and services that are exempt from Value Added Tax;
AND WHEREAS the imposition of a new twelve and a half per cent tax, on such a wide range of goods and services will create severe economic and financial challenges for many citizens of Trinidad and Tobago, among other things:
BE IT RESOLVED that the Value Added Tax (Amendment to Schedule 2) Order 2016 be annulled.
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