DO you know who is having an awesome week? The Board of Inland Revenue (BIR), soon to be rebranded as the Trinidad and Tobago Revenue Authority (TTRA).
Can you guess who is having a very rotten week because of BIR’s new and surprising efficiency? Big businesses that have managed to duck the tax man and have now found themselves being held accountable for billions of dollars of unpaid taxes.
Oooo child.
This week we learned the BIR had embarked on an exercise recover $15 billion… that’s right BILLION… in taxes owed by various entities.
On Tuesday, it was reported that the T&T Radio Network (TTRN) owed $34 million in unpaid taxes and penalties for the period 2015 to 2024. On Thursday we learned that entertainment empire Movie Towne is owing the government an astounding total $93 million in unpaid taxes and penalties, having not paid for 20 years. It has been in existence for 21 years.
Firstly, I would like to commend the BIR. It is about time large businesses and corporations be held accountable. The move to collect outstanding taxes from errant corporations serves a win for the little man who for the last few years has had to not only deal with the increased cost of living, but keeps getting hit with the continuous implementation of various tax schemes, examples being the online shopping tax and the controversial property tax.
By cracking down on large businesses that owe massive amounts of money we are finally seeing the white collars be held accountable. Not paying your taxes is breaking the law and contributes to the evasive “I could do what I want, because dem eh go stop me” attitude in our society.
As much as I am tickled pink with excitement to see where this BIR exercise goes, I have reservations regarding its sincerity.
Recently, the government has been plagued with scandal and criticism. From the Minster of Finance versus the Auditor General fiasco, the disappointing reappointment of an ineffective Commissioner of Police (according to my opinion and many others), to the continuous onslaught of crime at the doorstep of every Trinbagonian, opinions regarding the effectiveness of the government have not been positive. Being as we are so close to elections, the government needs to get back on the good side of its citizens and potential voters.
And nothing works better than an “Eat The Rich” campaign.
I suspect in the coming weeks we will hear and see more about errant taxpayers. Whether this exercise was done in earnest or because “desperate times, equal measures”, only time will tell.
Another thing that has been irking me is why these entities were allowed go on for years without paying tax, and this needs to be investigated. And I sure they are not the only ones. Was it a problem with the systems of BIR, was carelessness or something else?
The BIR is so quick to go and shake the pennies out of the pockets of the everyday man, but lets one entity get away for close to 20 years without pay tax? I mean, obviously this has people outraged.
How can a branch of our Ministry of Finance let organisations get away with evading taxes to the tune of $15 billion. That could have been used to give our police officers the backpay they were promised (and give them vehicles and more manpower so when we call a police station they can respond), to upgrade our hospitals, to put more support staff in our schools, to upgrade our system of water delivery. Because that is what our taxes are for and that is what we expect to see.
So, to the BIR I hope in the campaign of collecting taxes you also investigate your own internal systems, which have obviously failed. If legislation is blocking you, I hope you fight it.
I also ask you look into businesses that have not paid their employees’ NIS despite deducting it from their pay. I hope you investigate large to medium businesses that operate with cash only and remain unregistered.
I also hope you go after other government entities that have been holding back or practice shady financial techniques.
What is good for one must be good for all, and to continue your roll of suddenly “doing what you are supposed to be doing” I hope you re-examine your own internal affairs to ensure this $15 billion in outstanding taxes exercise does not need to be repeated a decade from now.
Support independent journalism.AZP News is an independent news organisation that is not affiliated with any big business and depends solely on advertising to pay our bills. Therefore, we are asking for the generosity of our readers to help us with small donations of any amount, but we will be happy with $20, $50 or $100. Click Here to Donate
A Good Week for BIR
DO you know who is having an awesome week? The Board of Inland Revenue (BIR), soon to be rebranded as the Trinidad and Tobago Revenue Authority (TTRA).
Can you guess who is having a very rotten week because of BIR’s new and surprising efficiency? Big businesses that have managed to duck the tax man and have now found themselves being held accountable for billions of dollars of unpaid taxes.
Oooo child.
This week we learned the BIR had embarked on an exercise recover $15 billion… that’s right
BILLION… in taxes owed by various entities.
On Tuesday, it was reported that the T&T Radio Network (TTRN) owed $34 million in unpaid taxes and penalties for the period 2015 to 2024. On Thursday we learned that entertainment empire Movie Towne is owing the government an astounding total $93 million in unpaid taxes and penalties, having not paid for 20 years. It has been in existence for 21 years.
Firstly, I would like to commend the BIR. It is about time large businesses and corporations be held accountable. The move to collect outstanding taxes from errant corporations serves a win for the little man who for the last few years has had to not only deal with the increased cost of living, but keeps getting hit with the continuous implementation of various tax schemes, examples being the online shopping tax and the controversial property tax.
By cracking down on large businesses that owe massive amounts of money we are finally seeing the white collars be held accountable. Not paying your taxes is breaking the law and contributes to the evasive “I could do what I want, because dem eh go stop me” attitude in our society.
As much as I am tickled pink with excitement to see where this BIR exercise goes, I have reservations regarding its sincerity.
Recently, the government has been plagued with scandal and criticism. From the Minster of Finance versus the Auditor General fiasco, the disappointing reappointment of an ineffective Commissioner of Police (according to my opinion and many others), to the continuous onslaught of crime at the doorstep of every Trinbagonian, opinions regarding the effectiveness of the government have not been positive.
Being as we are so close to elections, the government needs to get back on the good side of its
citizens and potential voters.
And nothing works better than an “Eat The Rich” campaign.
I suspect in the coming weeks we will hear and see more about errant taxpayers. Whether this exercise was done in earnest or because “desperate times, equal measures”, only time will tell.
Another thing that has been irking me is why these entities were allowed go on for years without paying tax, and this needs to be investigated. And I sure they are not the only ones. Was it a problem with the systems of BIR, was carelessness or something else?
The BIR is so quick to go and shake the pennies out of the pockets of the everyday man, but lets one entity get away for close to 20 years without pay tax? I mean, obviously this has people outraged.
How can a branch of our Ministry of Finance let organisations get away with evading taxes to the tune of $15 billion. That could have been used to give our police officers the backpay they were promised (and give them vehicles and more manpower so when we call a police station they can respond), to upgrade our hospitals, to put more support staff in our schools, to upgrade our system of water delivery. Because that is what our taxes are for and that is what we expect to see.
So, to the BIR I hope in the campaign of collecting taxes you also investigate your own internal systems, which have obviously failed. If legislation is blocking you, I hope you fight it.
I also ask you look into businesses that have not paid their employees’ NIS despite deducting it from their pay. I hope you investigate large to medium businesses that operate with cash only and remain unregistered.
I also hope you go after other government entities that have been holding back or practice shady financial techniques.
What is good for one must be good for all, and to continue your roll of suddenly “doing what you are supposed to be doing” I hope you re-examine your own internal affairs to ensure this $15 billion in outstanding taxes exercise does not need to be repeated a decade from now.
Support independent journalism. AZP News is an independent news organisation that is not affiliated with any big business and depends solely on advertising to pay our bills. Therefore, we are asking for the generosity of our readers to help us with small donations of any amount, but we will be happy with $20, $50 or $100. Click Here to Donate