Menu

Live Streaming

© Copyright 2023 103 FM. All Rights Reserved. Designed and Developed by Efoundry Digital Agencey LTD

T&T Chamber: We expect businesses to pay tax in a timely manner

The T&T Chamber says recent allegations of tax non-compliance do not reflect the entire private sector, most of which it says pays taxes on time.

This week, there were reports of that two business owners were being made by the Board of Inland Revenue to pay millions in unpaid taxes.

The Chamber says it expects the business community to operate within the law, including timely tax payments and will provide feedback when necessary to ensure an ease of doing business.

One of its suggestions is for an online system of tax payment without a minimum payment limit.

It explains that while larger taxpayers have sufficient systems in place, there are no online facilities for payments below TT$100,000, posing challenges for smaller taxpayers.

(Photo credit: Trinidad and Tobago Chamber of Industry and Commerce on Facebook)

Responses