Govt going after casinos

Answering questions from journalists following the Annual Post Budget Analysis organised by the Trinidad and Tobago Chamber of Industry and Commerce at the Hyatt Regency, Imbert said the legislation was laid in Parliament and will be debated in the next session of the House.

During his feature presentation to the audience, Imbert said he had been informed there were about 99 members clubs in the country with more opening each day, but only three were paying taxes. He referred to the inefficiencies at the Board of Inland Revenue which he said had fallen asleep. He said this was why it was so necessary to establish the Revenue Authority, adding that there was not enough information sharing among the various entities, particularly between the Customs Division and the Board of Inland Revenue.

He said the Revenue Authority would bring all the revenue collecting agencies under one roof, all sharing the ame communication platform and all getting the same information in real time so that the government could have a proper understanding of its potential for revenue collection. He referred to the gaming industry as an example, saying that had been informed that there were more than a hundred establishments with gaming equipment and up to a few months ago the Board of Inland Revenue was only collecting taxes from three of them.

He said this meant that there were more than 90 gambling establishments from which no tax was being collected. He said the board simply did not have enough resources so the country needed the Revenue Authority very badly.

“We need an over-arching agency that shares information among all the revenue agencies in the country,” he said. In response to a question from the audience, Imbert complained about the level of bureaucracy which he said was making it difficult to accomplish the government’s objectives.

He said a few months ago he introduced incentives for the commercial construction of multi-family housing and car parks. However, he said it took three to four months to prepare the forms and a system for applicants who wished to take advantage of those incentives. He said the government will do what it can to deal with the beuracracy and recalled that in the 1990s there was a co-ordinating committee which was brought together to deal with applications to all the agencies. He said that arrangement had broken down completely but that was the kind of thing that was needed to speed up and facilitate the work of the private sector.