Maroc - NEWSDAY.CO.TT - A la Une - 14/Sep 07:37

Saddam chides Imbert over new tax law

SADDAM HOSEIN, Barataria/San Juan MP, accused Finance Minister Colm Imbert of replacing the Board of Inland Revenue (BIR) with his own office as having responsibility to convey taxpayers' details to the USA under the Tax Information Exchange Act (USA) Act 2017. Hosein levelled the charge as he led the Opposition's response to Imbert's presentation of the Miscellaneous Provisions (Global Forum) Bill 2024 in the House of Representatives on September 13. This bill amends 16 acts relating to tax and financial transparency. Hosein said previously a joint select committee had agreed the entity reporting to the US should be the BIR. "In 2017 you agreed, after that joint select committee, to remove the minister as the competent authority and insert the BIR. "And now, surreptitiously, you go back on that particular position and place the minister as the competent authority "Madam Speaker, I don't know if dishonest is an unparliamentary word, but this is what it is, Madam Speaker!" Hosein spelt out his concerns if the minister were to be the conduit to convey individuals' tax details from Trinidad and Tobago at the request of the US tax authorities. "That means the minister will be privy to taxpayers' information. That is the danger of this thing. He can request information (for the US tax authorities) and also see information that is requested. This is the danger in this bill. How can we allow this?" Hosein accused Imbert of bringing the change without telling MPs or justifying it. "Why did you go back, behind your word, and change this? Why?" He said Imbert had done the same thing with other, non-US tax information exchange agreements. "Why are you putting taxpayers' information in the hands of a politician? This is dangerous. "What if the US or any other jurisdiction wants (tax) information on the sitting minister of finance? What happens there? Is he going to say, 'I am not going to give the information?'" Hosein said sensitive information must be entrusted to an independent institution, not a politician. He said Canada, Barbados and Jamaica vested such power in their version of the BIR, not in any minister. "The minister must withdraw these amendments! "Why are you chopping away the powers and independence of the BIR, vesting these large powers under the hands of a politician to deal with sensitive taxpayers' information?" While denying he was casting aspersions, Hosein said Imbert often falls out with a lot of people. "He has (Auditor General) Ms Jaywantie Ramdass suing him on one side. He has (Inland Revenue former acting commissioner) Rohini Ramkissoon on the other side. "Now I see Ms Beverly Khan, the Procurement Regulator, has (presented) an adverse report." Demanding the Government withdraw the provision for the finance minister to be the competent authority, Hosein concluded, "And it will take a UNC government to take us out of the blacklist." The bill later went to committee stage and was passed by the House with amendments. The post Saddam chides Imbert over new tax law appeared first on Trinidad and Tobago Newsday.