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  • 1 year ago
Political Leader of the Progressive Empowerment Party Phillip Alexander says the property tax citizens are paying now is an insult to the people of Trinidad and Tobago.

Transcript
00:00Political leader of the Progressive Empowerment Party, Philip Alexander,
00:04says the property tax citizens are paying now is an insult to the people of Trinidad and Tobago.
00:11You see the property tax that's taking place right now? That is such an assault on decency.
00:17All of these people who are paying property tax now, lining up in the stand and ready to pay
00:21property tax, have already paid property tax on their property in the form of a stamp duty
00:26when they bought it. He explained what stamp duty is and explained his belief that government
00:33is overtaxing homeowners. Stamp duties in other countries is a lot less than what is paid in TNT.
00:42Stamp duty is a percentage of the value of the property. Every time it sells,
00:47the government gets a piece, like the casa in Agambo. It is a bigger source of revenue
00:53to the government. Literally, the cost of a stamp in foreign countries, five pounds,
00:59and the stamp is hanging and you're going away. In Trinidad, it's tens of thousands,
01:04sometimes hundreds of thousands of dollars. That's not five pounds. That's not $60.
01:08It's a lot of money. If you're going to take hundreds of thousands of dollars at the purchase
01:14of the property, how could you then come back and ask for more taxation on that same property?
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