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CCNTV6
  • 5 days ago
As one MP alerts the public of a bill to hit the house of representatives on Friday to introduce new taxes, the Prime Minister says these are not 'new' but announced in the 2026 Budget.
Transcript
00:00On Tuesday, Diego Martin Northeast Member of Parliament, Colm Imbert, posted to X,
00:07The UNC government has just circulated a 44-page bill, which they intend to railroad through on Friday with an avalanche of new taxes,
00:18landlord tax, electricity tax, plus a 20% increase in NIS rates and increased fines, to add to the 100% increase in alcohol taxes. Wickedness.
00:33In fact, Prime Minister Kamala Pisan-Bissasa tells TV6 News these aren't entirely new to the public's knowledge,
00:40as they were previously revealed during Finance Minister Devindranath Tanku's maiden fiscal package earlier this year.
00:48The landlord business surcharge is to be applied to gross annual rental income.
00:54It is 2.5% on income up to $20,000 and 3.5% on income above $20,000.
01:04All landlords are required to register with the Board of Inland Revenue and pay a one-time registration fee of $2,500.
01:15As it relates to the electricity tax referenced by Imbert, the 2026 Trinidad and Tobago budget introduced
01:22an electricity surcharge of $0.05 per kilowatt hour for commercial and industrial customers.
01:30This will become effective January 1, 2026.
01:35Tanku also announced a phased 6% increase in the national insurance system contribution rates, not 20%.
01:44Phase 1, a 3% increase will take effect from January 5, 2026.
01:50And Phase 2, a further 3% increase will be implemented from January 4, 2027.
01:58The opposition is due to host a media briefing tomorrow when it is expected they will touch on this bill.
02:05Arvashita Mawari Rupnarein, TV6 News.
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