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.
Tobago Chamber of Industry and Commerce vice chairman Martin George has resigned.
George, who was part of the new management committee headed by new chairman Claude Benoit, was elected and installed alongside Benoit in March this year.
But in a shocking turn of events, Benoit was removed from his position by an executive vote before George, who was to take over as chairman, resigned and made the decision public via a statement on his Facebook page on Tuesday night.
The Chamber of Industry and Commerce has welcomed the measures announced the 2019 Budget by Finance Minister Colm Imbert.
The Chamber says it is satisfied that the minister adopted some of its recommendations.
The following is the Chamber's response to the Budget.
"Following the delivery of the National Budget 2018/2019 this afternoon the Trinidad and Tobago Chamber of Industry and Commerce wishes to note the Minister of Finance’s positive and ambitious plans for the next fiscal year and beyond.
The Chamber of Industry and Commerce is calling on citizens all Petrotrin stakeholders to adopt a level-headed approach and work collaboratively for a successful way forward.
The Chamber said in a statement Monday that it deems the call by the president of the Oilfields Workers Trade Union (OWTU), a retrograde step that may simply serve to undermine the economy, and ultimately harm the very persons it is intended to help.
The Sangre Grande Chamber of Commerce says the resumption of work on the Cumuto to Manzanilla Highway will benefit the community.
According to the Chamber, the proposed Churchill Roosevelt highway extension will create employment, development and attract investments in the eastern region.
The business group says it is committed to the enhancement of the community and preservation of its natural treasures.
The Chamber of Industry and Commerce says it is encouraged by some of the issues raised by Finance Minister Colm Imbert in the Mid-Year Review but remains cautious as the Minister's optimism is based on energy prices.
The Chamber issued the following statement on the Mid-Year Review:
"The Trinidad and Tobago Chamber of Industry and Commerce notes the optimism expressed by the Minister of Finance in today’s Mid-Year Budget Review.
Ther Chamber of Industry and Commerce is expressing concern over the collapse of the ferry service between Trinidad and Tobago and says the Galleons Passage is a retrograde step for Tobago.
The Chamber issued a statement on the seabridge problems, on Monday.
"The Trinidad and Tobago Chamber of Industry and Commerce (TTCIC) is extremely concerned by what is now an almost-total collapse of the ferry service between the two islands.
The Trinidad and Tobago Chamber of Industry and Commerce says it is celebrating the appointment of President Paula-Mae Weekes, Trinidad and Tobago's new head of state.
"Her Excellency has had a long and progressive judicial career that has no doubt prepared her well for her new presidential role, and the T&T Chamber looks forward to her good governance and effective decision making," the Chamber says in a statement issued Monday.