Govt, Opposition cooperate to preserve tax bill

Despite the tit-for-tat over a Bill to entrench a bilateral agreement on taxation matters between TT and the US, both the Government and the Opposition on Wednesday cooperated to approve a motion to carry over the Tax Information Exchange Agreement Bill 2016.

Government Whip Camille Robinson- Regis had called on the House to exercise its powers under new Standing Order 79 (3) which states, “The House may...on motion moved without amendment or debate, agree to the resumption of proceedings on a Bill in the following session.” This motion was approved.

Minister of Finance Colm Imbert yesterday confirmed the impact of the Parliament’s invocation of its powers will be to prevent the legislation from lapsing, meaning time will be saved in the new session which begins on Friday.

Two other Bills were also preserved relating to the reform of the insurance sector, as well as the gaming industry.

“Under this new standing order, the proceedings on these Bills will be resumed in the new session of Parliament, due to commence on Friday, September 23,” Imbert said.

“This means that these Bills do not have to be reintroduced, and in the case of the FATCA Bill it allows us to complete the debate on that Bill as soon as practicable after the completion of the Budget debate and send it to a JSC without losing any time.” While sources on Sunday stated Parliament was due to reopen next Monday, those plans have since changed and the official reopening will instead occur this Friday.

Parliament spokesman Jason Elcock on Sunday did not state when Parliament would reopen, but Government sources on that day pointed to September 26. However, Government sources yesterday said while September 26 was originally planned, subsequent events have caused the date to move to this Friday.

Thereafter, the Budget is due to be read on September 30.

There will be no ceremonial opening, Government officials said. The session prorogued yesterday.