GIVE US MORE TIME

This after the Government acquiesced to a request from the Opposition for a Parliament committee to study the Tax Information Exchange Agreements Bill 2016 but on the strict condition that the study should not be rushed.

“The Opposition has told us they are supportive but they want a Joint Select Committee, so that we have decided to facilitate the Opposition with a proper Joint Select Committee,” Imbert told reporters at the Parliament’s offices at Tower D, International Waterfront Centre.

“Not a rush job, not a piecemeal job.” At about 1.30pm, Imbert met with Caroni Central MP Dr Bhoe Tewarie, Opposition Whip Ganga Singh and Naparima MP Rodney Charles. Also on the Government contingent were Acting Attorney General Stuart Young and Planning Minister Camille Robinson-Regis.

The meeting lasted about half an hour. Imbert said it would be impractical to rush a Joint Select Committee and instead the Government would ask for more time so as to hold a JSC and then pass the legislation after the Budget.

While there was an option to meet over the weekend, the Minister said the purpose of the Joint Select Committee exercise would be frustrated.

“The purpose of a Joint Select Committee meeting... is to have a mature, careful examination of legislation, allow the opportunity for interested parties to make representations, and have a proper ventilation,” Imbert said. “We thought that it did not really make any sense (to rush) so that what we are going to do now is to speak to the US Department of the Treasury, see if we can get an extension of time to allow a proper Joint Select Committee to take place after the Budget.” Imbert expressed confidence an extension would be granted by the US.

“We have signed the agreement with the United States, we have initiated the Parliamentary process by laying the bill, we are meeting with the Opposition,” Imbert said. “I am reasonably confident that once we provide this information to the US authorities, that we should be able to get a small extension of time to allow the Joint Select Committee process to be completed properly.” Imbert did not agree that under the provisions of the legislation the office of the Minister of Finance would have access to private and confidential banking information.

Coming out of the meeting, Tewarie said the Government had agreed to consider the Opposition’s request for a JSC.

The Caroni Central MP said there were several concerns with the legislation, including questions over to whom its provisions would apply; whether there would be adequate Parliament oversight; whether the Board of Inland Revenue would be ready to enforce the measures; and the lack of regulations.

However, Imbert expressed confidence the BIR would be readied in time, saying the insertion of a proclamation clause would give the State flexibility. He said the State will know if its request for more time has been granted within a week. He said if no extension is granted by the US, the State would cross that bridge when it gets there.

These developments came as US Ambassador John L Estrada paid a courtesy call on Speaker of the House of Representatives Bridgid Annisette-George and Senate President Christine Kangaloo yesterday afternoon. In a series of candid remarks, Estrada complimented both presiding officers, noting they often have a tough job of reeling in both sides of the Parliament.

“I’ve told you many times before how much I admire seeing you in action as you keep the politicians on track,” Estrada said. “Since I’ve been here I’ve enjoyed watching how the Parliamentary system works. Our system in the United States is much different.”