Kamla’s Fabulist Approach: No Inheritance Tax says PNM Women

By Prior Beharry

THE People’s National Movement (PNM) is adamant that the government is not going to introduce a 25% inheritance tax.

In a release on Monday, the National Women’s League alluded to an advertisement in the media and stated that on several occasions Finance Minister Colm Imbert and Lady Vice Chair of the party and Minster of Housing and Urban Development Camille Robinson-Regis addressed the issue.

It stated, “The Opposition leader is no stranger to mendacity, but this fabulist approach can easily be disproved by the media.

“The Women’s League of the People’s National Movement (PNM), therefore strongly condemns the United National Congress (UNC) and its leader, Kamla Persad-Bissessar, for their continued dissemination of false information regarding the Inheritance Tax.

“Whilst the League accepts politics is rife with cut and thrust, it will not accept blatant lies and the abuse of public trust.

“The League is calling upon Kamla to stop!”

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The release stated that the  PNM government has been committed to implementing tax reforms that benefit the citizens of Trinidad and Tobago.

It listed a few of them including:

• The reduction of income tax exemption limit from $84,000 to $90,000 per year. This move ensures that individuals earning $7,500 a month or less are now exempt from income tax, putting an additional $1,500 per year into the pockets of over 300,000 taxpayers;
• Increasing the VAT registration threshold from $500,000 to $600,000;
• Offering rebates of up to $25,000 for the implementation of renewable energy solutions, such as solar and wind energy, in approved agricultural holdings;
• A three-tiered subsidy structure which will increase the maximum subsidy for the construction of a basic two-bedroom housing unit to levels of $165,000 for construction on flat lands, $170,000 for construction on undulating lands, and $175,000 for construction on hilly lands;
• A one-time tax credit against the corporation tax liability of approved manufacturing companies, with a maximum credit of $50,000 for investing in new machinery, production lines, and equipment;
• The government proposed a one-time tax credit of up to $50,000 for approved electronic payment providers and e-money issuers; and
• To promote the adoption of renewable energy technologies, the government waived VAT on new equipment for manufacturing companies utilising alternate energy sources such as biomass, wind, solar, and water.