Opposition signals no support for Tax Bill

Robinson-Regis added that in the interim, Government will meet with the Opposition on Monday to hold consultations about the legislation.

Speaking following the adjournment, Imbert explained that Persad-Bissessar’s proposal for the bill to be sent to a joint select committee (JSC) and the House sit within a week to continue the debate was not viable.

“The members of the committee from the Senate will have to be named at a sitting of the Senate,” he said.

Noting the Senate sits next Tuesday, Imbert continued, “So at that sitting, the members of that JSC will be named by the President of the Senate, after discussion.” He said the process returns to the House because six MPs would have to be appointed alongside the six senators on the JSC. Indicating September 16 would be the first time the committee would be appointed, its first meeting could only be on September 17 and Parliament prorogues on September 22, Imbert said this approach would not work given the September 30 deadline for TT to become FATCA compliant. In addition, Imbert said, “Then you are into the budget cycle as well because the Budget must be completed at the end of October.” He added four weeks are needed for the budget cycle in the House and Senate. In her contribution, Persad-Bissessar scoffed at Imbert’s earlier warnings of dire implications for the economy if the legislation was not passed. Describing the actions of the Government as “reckless and irresponsible brinkmanship,” Persad-Bissessar declared, “I don’t believe the deadlines.” Recalling the Government spoke about deadlines regarding bail and Strategic Service Agency (SSA) legislation, Persad-Bissessar said TT suffered no dire consequences when the former was not passed and when the latter was passed.

She charged the bill was giving unfettered power to Imbert as Finance Minister and US authorities could now obtain confidential financial information about TT nationals.