We're LIVE: Finance Minister on the economy. View here: https://www.facebook.com/CNC3Television/videos/218321629117010/
Minister of Finance Colm Imbert and PSA president, Watson Duke, have agreed to draft a Memorandum of Understanding on the structure of the proposed Trinidad and Tobago Revenue Authority.
The decision came via a meeting of the ministry and the PSA on Wednesday.
Legislation on the authority is now before a Joint-Select Committee of Parliament and requires a special majority vote.
Minister Imbert said the two parties discussed issued of job security and employee benefits, as well as union representation, the health plan and pension plan.
The Ministry of Finance says a ban on the importation of certain types of seeds, is not a new initiative.
The ministry issued a statement on the ban on Wednesday.
"The Hon. Colm Imbert, Minister of Finance, has taken note of recent commentary on the importation of certain items into Trinidad and Tobago, and the mistaken belief that these import restrictions have only recently occurred.
For many, it's been somewhat of the nuisance in the wallet, the smallest monetary representation in T&T with minimal use, the one-cent coin.
But if ever it needed your love, one last time, it would be today.
As of tomorrow, Tuesday, July 3rd, the one-cent coin will cease to be legal tender in Trinidad and Tobago.
The Central Bank had said in a statement on April 1, 2018, that the public could redeem one-cent coins at commercial banks or the Central Bank up to July 2, 2018.
Although T&T used up half of a billion dollars of foreign reserves over the past six months and is likely to use more for the rest of the year, the country should not be worried, Central Bank Governor Alvin Hilaire said yesterday.
Finance Minister Colm Imbert is seeking to clarify how the property tax will work and he is making it clear that it does not include dog houses or duck ponds.
In a tweet this morning, Minister Imbert said the property tax is based on the rental value of properties and not the capital value.
He goes on to say that minor structures like a dog house, duck pond or fowl coop cannot possibly increase the tax payable since it does not increase the rental value of a property in any significant way.
Energy Minister Franklin Khan says this country is losing billions of US dollars from multinational energy companies and he says his government will be dealing with that.
He made the comments during the 'Spoltight on Energy' conference that is currently ongoing at the Hyatt.
Minister Khan says it's the government's sovereign right to get a fair economic rent on behalf of the people of T&T.
He compared the taxes paid by one energy company in this country to what it pays in another country.