Penal Debe Chamber knocks AG’s loss statement

There are some years when you can afford to take a loss.” “In fact, it affects your tax position progressively,” Al Rawi stated adding Trinidad and Tobago could only find a solution to its problems “with all hands on deck”.

However, in a media release yesterday, Roopnarine, without identifying Al Rawi by name, pointed out that businesses had to operate “at a profit to pay outstanding bills which may include rent, salaries and taxes.”

“Please inform the business community, how do we pay taxes when we are running at a loss? Not all taxes paid are from profits earned and for some small businesses, it is only Green Fund and Business Levy Taxes being applicable,” Roopnarine stated, adding, “can you explain to us how do we pay NIS contributions and salaries? Can you tell us how we avoid losing our assets held by the banks?”

“The Penal Debe Chamber of Commerce is troubled to think that a senior member of Cabinet could make such a statement and signal to state boards indirectly that this is the norm, or this is acceptable,” he added. Roopnarine observed that the chamber would like to see all state companies operating at a profit and “releasing the business community and the taxpayers of this burden.”

“This is a dangerous mentality and needs to be shut down in infancy before this takes roots in other sectors,” he stated, adding, “I hope this was a genuine mistake because I am not aware of any business presently in operation and working towards not showing a profit this year.”

And referring to the runaway murder rate, Roopnarine described the situation as “appalling” and advised the Minister of National Security to “hold all stakeholders responsible” and not “settle for any increase in crime and murders.”