Economist suggests taxes based on business sizes, minister disagrees
As the COVID-19 crisis highlighted the vast informal sector in T&T, Economist Dr Roger Hosein believes that one of the reasons companies stay informal is due to the high cost of doing business. He has recommended that as something the Roadmap Recovery Committee should pay close attention to. Hosein said one option that should be placed on the table when the Revenue Authority comes on stream is, “to encourage small firms to cross the border from informality into formality we would probably want to consider a lower tax rate, for example, for firms employing five or less people.” In response to the suggestion...
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