Govt defends FATCA record UNC caused JSC delay

Within that chronology, the Government said the facts clearly show the delay in establishing the JSC to deal with the TIEA Bill, fell squarely on the shoulders of the Opposition. The bill is essential for TT being compliant with the Foreign Account Tax Compliance Act (FATCA) of the United States.

According to a statement issued by the Finance Ministry, an advance copy of the original bill was sent to the Opposition on September 5, 2016.

The bill was introduced and debated in the House for the first time on September 9, 2016. When the Opposition insisted at that sitting on the establishment of a JSC to examine the legislation, the Government said the Opposition was advised that the First Session of the 11th Parliament was due to expire in two weeks and it would be practically impossible to establish the JSC under those circumstances.

When debate on the bill resumed on September 14, 2016, the Opposition again insisted on the creation of a JSC. The Government indicated that given the final stages of preparing the 2016/2017 Budget, the Parliament would have been occupied with the Budget almost to the end of last October.

Government added that it succeeded in getting an extension until September 30, 2017 for TT to be FATCA compliant.

The Government said a JSC was contemplated and in the House on December 9, 2016, Finance Minister Colm Imbert said Government was considering the establishment of that committee.

However, Government continued, the Hansard record shows that on that same day, Opposition Leader Kamla Persad-Bissessar was ejected from the House after getting into an argument with Speaker Bridgid Annisette- George.