PM: No “PNM Style Property Tax”

The Honourable Kamla Persad-Bissessar, Prime Minister of Trinidad and Tobago, and Senator the Honourable Larry Howai. Minister of Finance and the Economy.
Courtesy: Office the Parliament.

Prime Minister Kamla Persad-Bissessar has cleared up any misconceptions of her Government’s return to Property Tax.

In a Media Briefing after Monday’s budget, Mrs. Persad-Bissessar said industries like Petrotrin and those at Point Lisas will be taxed, but residential and agricultural lands will revert to Land and Building Taxes pre-2010.

“I want to make it very clear is that my Government will not introduce any Property Tax. There will be no property tax. What we are looking at, from what Minister Howai spoke about today, is what is known as an Industrial Tax. In fact, I have given instructions for a Bill to be drafted that will clearly take the Lands and Building Taxes as it was prior to 2010, before the law that was passed by the PNM for the Property Tax. I want to ease any of those who may be fearful that there is going to be a Property Tax, there will be no Property Tax.”

C News