Bankers have again voiced their support for the passage and implementation of laws for T&T to become FATCA (Foreign Account Tax Compliance Act) compliant. According to President of the Bankers Association of Trinidad and Tobago, Anya Schnoor implications of non-compliance can result in T&T being unable to trade internationally. She said failure to pass the legislation could also lead to a 30 percent withholding tax implemented on US dollars flowing into the banking system in T&T from the US.
Former Extempo Monarch Lingo will lead 7 calypsonians who will challenge reigning champion Gypsy at next week Thursday's extempo finals at NAPA.
23 calypsonians faced the judges at Globe Cinema on Monday evening.
Ian Wason has more in this report.
A vote on the Foreign Account Tax Compliance Act (FATCA) will be taken on Thursday 23rd February 2017.
This from Prime Minister Dr. Keith Rowley as he began his contribution in the parliament on Monday night.
The marathon debate was a motion to adopt the report of the joint select committee on the tax information exchange agreements.
After a controversial period and a suspension of the sitting Dr. Rowley said the bill must be passed even if the country isn't sure if the Donald Trump administration would repeal the act.
Debate on the motion didn't go as smoothly as one would have thought as the speaker of the house had to stand and caution members of both sides on several occasions.
This as it says the work of the committee is incomplete and at one point suspended the house.
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The opposition UNC wants to extend the Joint Select Committee on FATCA. Contributing to debate today, in the House of Representatives, the Oropouche East M.P Dr. Roodal Moonilal said, the verbatim notes of the JSC were the proof that the Attorney General shared the view the JSC should be extended.
The Tobago Division of the Police Service says, it's implementing a number of measures to curb what it says appears to be an increase in crime on the island. This comes on the heels of the gruesome murder of a 15 year old girl in Tobago.
THA Chief Secretary Kelvin Charles has met with heads of the Trinidad and Tobago Police Service to discuss Tobago's crime situation. The meeting took place at 8 o’clock on Monday morning and lasted just over an hour.
Debate on the Foreign Account Tax Compliance Act or FATCA bill is set to continue in the House of Representatives.
And the Bankers Association of Trinidad and Tobago is appealing to the Opposition to support the passage of the Bill.
BATT said it has spent the past 5 years working with both the former Government and the present Government on the implementation of the FATCA regime.
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