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Foreign Used Dealers Pleased With Minister’s Moratorium Announcement on the issue of Luxury Tax .

Foreign Used Dealers Pleased With Minister’s Moratorium Announcement on the issue of Luxury Tax .

NEWS GRAPHIC 8The Trinidad and Tobago Automotive Dealers Association is pleased with the government ‘s decision to have a moratorium on the tax on luxury vehicles.

At the mid-year budget review earlier this month, it was revealed that there would be a 50 per cent increase in Customs duty and motor vehicle taxes on luxury cars with an engine size exceeding 1999cc.

The increase was announced for immediate implementation however, in this latest move, the finance minister says the government is hoping to provide relief to citizens who were taken by surprise by the announcement. He said it is also aimed at preventing cheating.

He said the decision was taken following concerns raised by car dealers and inquiries made by citizens.

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Finance Minister , Colm Imbert

However, speaking in a News Power Now interview this afternoon President of the TTADA , Visham Babwah, complained about a lack of consultation before the tax was implemented.

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Trinidad and Tobago Automobile Dealers Association President, Visham Babwah.

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