Kamla not being truthful about FATCA
And Leader of Government Business in the House, Camille Robinson-Regis also disputed Persad-Bissessar’s claim that all of the deliberations of a joint select committee (JSC) would be debated when the JSC submits its report to the House. She said only the final decision of the committee is discussed by the House when its report is laid in the House.
Responding to Persad-Bissessar’s reiteration that the Tax Information Exchange Agreement 2016 Bill was not the legislation drafted by her former People’s Partnership government, Imbert said, “I have spoken about this before when I first introduced the FATCA Bill in September. I made the point that the Bill was identical to the Bill drafted by the Chief Parliamentary Counsel under the previous Attorney General and Minister of Finance under the PP government.” He added, “This is one of the reasons why we (Government) are so taken aback at their behaviour.
The FATCA agreement I signed with the USA on behalf of TT in August is identical to the agreement they (PP) agreed to sign in 2013.” Imbert said the “FATCA Bill now before the Parliament is identical to the Bills that the former administration drafted in 2015.” On Tuesday last, Opposition Chief Whip David Lee said the UNC was holding to its position of sending the Bill to a JSC. On Persad-Bissessar’s claim that all of the deliberations of a JSC are made public when that JSC’s report is laid in Parliament, Robinson- Regis said, “On the contrary, a verbatim report is laid in the Parliament but only the recommendations of the committee are reported and may be debated.” She added, “So unlike a committee of the whole (House) where all the points are made in public and on camera, only the final decision of the committee is debated before the Parliament.” The Opposition blanked debate on the FATCA legislation on September 23, December 9 and Monday. During Monday’s sitting, in committee stage, Government made several amendments to the Bill. These included designating the Board of Inland Revenue as the competent authority to deal with the US Treasury and making the legislation specific to the 2016 inter-governmental agreement with the US and the 1989 US Tax Sharing Agreement.
The House next sits on January 6, to continue its deliberations on FATCA. Imbert previously said Government hoped to have the legislation passed by February.
The amended Bill indicates that once passed by Parliament, the Tax Information Exchange Agreements Act 2016 “comes into operation on such date as is fixed by the President by proclamation, which date shall be on or before March 31, 2017.”