Imbert: 2019 tax amnesty could earn Gov’t $700m

    Photo credit: 103FM/Rai Ricomas

    The upcoming tax amnesty could earn the State up to $700m in additional revenue, according to the Finance Minister.

    Speaking at a media conference today, Mr Colm Imbert is dismissing claims that similar incentive in 2016 failed to reach its target of $500m.

    He believes, like in that year, 2019’s three-month amnesty starting in mid-June will earn more money than projected.

    The amnesty, according to Mr Imbert, not only aims to earn revenue but also seeks to allow the incoming T&T Revenue Authority to start with “as clean a sheet as possible.”

    TTRA will replace the Board of Inland Revenue, which, according to the Minister, failed virtually every area of an examination done by an IMF affiliate in 2018.