By Curtis Rampersad Publications Editor
Story Created: Jan 17, 2012 at 12:45 AM ECT
Story Updated: Jan 17, 2012 at 12:45 AM ECT
New income tax measures will be a part of Government's 2012/2013 national budget later this year.
Finance Minister Winston Dookeran said yesterday the last time the State addressed the country's tax systems was in the 1980s. Around this time, Value Added Tax (VAT) was introduced on goods and services.
Speaking to reporters at the handover to Dookeran of the Trinidad and Tobago 2011-2012 Investment Guide prepared by corporate and investment bank Citi at the Chaud Restaurant, Queen's Park West, Port of Spain, the minister said it was time to review the country's tax collection system.
He previously spoke of a review of the tax system on Saturday during the National Assembly of the Congress of the People at Hillview College, Tunapuna.
Dookeran is the founding leader of the COP.
He said the intention was to address "issues of inequality of income" in the country and later this year, there should be a system of tax revisions in the national budget.
A comprehensive review of the current tax system has already started.
Dookeran said he could not say if this would mean higher taxes or lower taxes but the review was about improving the current tax collection system and addressing inequality issues with regard to income taxes paid.
A tax amnesty offered last year brought in some $1.8 billion in revenue to the government, Dookeran told the House of Representatives last June.
http://www.trinidadexpress.com/business/Dookeran__Income_tax_changes_coming-137459988.html
