Govt: FATCA helps against crime

This declaration was contained in a statement, from the Ministry of the Attorney General and Legal Affairs, released ahead of yesterday’s sitting of the House of Representatives where Finance Minister Colm Imbert was in the process of winding up the debate last Friday after the Opposition staged a walk out. The walkout by Opposition MPs occurred after Speaker Bridgid Annisette-George rejected a request by Opposition Leader Kamla Persad-Bissessar to adjourn the House to debate, what Persad-Bissessar described as, Government’s failure to address an unprecedented number of murders and missing persons in TT. Persad-Bissessar stood up and protested Annisette-George’s decision. Other Opposition MPs left the Parliament Chamber after Persad-Bissessar obeyed Annisette-George’s instruction to leave the Chamber.

In the statement, the ministry declared, “The Government is adamant that the greatest impact on the scourge of crime will be made by following and stopping the profit of crime.

No other Government has focused so significantly on taking the profit out of crime.” The ministry further stated the passage of this legislation, “is critical in our fight against the illicit movement of funds and the financing of criminal activity, as it allows for an exchange of account information between tax authorities.” With the bill being a critical aspect of this part of the battle against crime, the ministry declared, “The Opposition’s refusal to agree to expose foreign accounts as proposed by this law is inexplicable and intolerable.

The ministry reiterated positions articulated last Friday by Attorney General Faris Al Rawi and Minister in the Ministry of the Attorney General and Legal Affairs Stuart Young that in 2013, the former Persad-Bissessar administration had an international legal obligation to enact this legislation but failed to do so.

Recalling that the Opposition raised concerns about six clauses in the bill, the ministry said only one clause remains to be dealt with.

The ministry said contrary to claims from the Opposition, yesterday’s sitting was the fifth time the Opposition had an opportunity in the last four months to voice its concerns and propose amendments.