WHEREAS it is provided by Section 8(4) of the Value Added Tax Act, Chap. 75:06, that the Minister may by Order amend Schedule 2 of the Act;
AND WHEREAS Schedule 2 of the Act prescribes the goods and srvices which are deemed to be ?zero-rated? and therefore attract no taxes;
AND WHEREAS the Value Added Tax (Amendment to Schedule 2) Order 2016 was published on January 29, 2016 by Legal Notice No. 17;
AND WHEREAS this Order has drastically reduced the quantum of goods and srvices that are exempt from Value Added Tax;
AND WHEREAS the imposition of a new twelve and a half per cent tax, on such a wide range of goods and srvices will create severe economic and financial challenges for many citizens of Trinidad and Tobago, among other things:
BE IT RESOLVED that the Value Added Tax (Amendment to Schedule 2) Order 2016 be annulled.
(By Member for Tabaquite)
View the Value Added Tax (Schedule 2) Order 2016 here.
View the Information Brief here.
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