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  • 1 year ago
The Finance Minister says about half of the companies registered in this country are not active and, that the Global Forum wants them removed from the Companies Registry.

The Minister spoke on the matter as he piloted the Global Forum Bill in the Senate on Tuesday, after it was passed by the House of Representatives last week on September 13th.

Juhel Browne reports.
Transcript
00:00Finance Minister Kwon Imbert told the Senate the Miscellaneous Provisions Global Forum
00:09Bill 2024 is part of a substantial initiative to have Trinidad and Tobago removed from the
00:15European Union's list of non-cooperative tax jurisdictions.
00:19The Finance Minister said the EU and the Organisation for Economic Co-operation and Development,
00:25OCED, have a combined number of 50 member states.
00:55The Finance Minister then revealed a startling statistic as he made reference
01:01to a recent meeting he had with staff of the Registrar General's Department.
01:26Leader of Opposition Business in the Senate, Wade Mark, made reference to a clause
01:53regarding information to be provided by a requesting party.
01:56Opposition Senators had sought to prevent the bill from being debated in the Senate.
02:26But this was blocked via the votes of the Government and Independent Senators.
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