The Stakeholders in the Gaming industry are today describing increases in taxation for the industry as an act of bad faith by the Government of Trinidad and Tobago, in particular the Minister of Finance, Colm Imbert.
A release sent recently stated that the Government appears to have singled out the Gaming Industry as one of the few areas of the national economy as a source of taxation revenue to bear the burden of the nation’s economic challenges.
It said that over the last year various stakeholders have been in communication with the Ministry of Finance and participated with the Joint Select Committee of the Parliament of the Republic of Trinidad and Tobago in developing relevant and fair Gaming legislation that will regulate the Industry, yet without any notice or consultation the taxes on the industry was dramatically increased.
It also revealed that the Trinidad and Tobago Members Club Association (TTMCA) feels that the introduction of new increases in taxes will not necessarily result in more revenues for the government if it is not accompanied by correspondent strong enforcement.
What the increased taxes will do it says, is punish those who are complying with the authorities already.