Ministry of Finance

NLCB: Taxes will not exceed 500,000 dollars

The National Lotteries Control Board is still calculating exactly how much money it will have to pay back to gamblers but says the amount does not exceed half a million dollars. This as the NLCB issued a statement on Friday that it will have to refund all the 10% deducted for the period July 30th to August 4th.
However, NLCB Chairman Eustace Nancis says he doesn't estimate the figure to be more than 300 to 400 thousand dollars.
Initially, the NLCB announced that winnings crossing $1,000 would be taxed at 10%.

Finance Ministry invites voluntary submissions of property tax valuation forms

The Ministry of Finance is inviting anyone who wishes to submit property tax evaluation forms voluntarily, to do so.

The Ministry made the call in a statement issued on Tuesday.

"The Ministry of Finance wishes to advise property owners that they are free to submit valuation return forms and any supporting documents they consider relevant to any office of the Valuations Division on a voluntary basis."

The High Court has halted the mandatory submission of forms and the state;s appeal against the decision will be heard on June 6th.

Finance Ministry: 'Stable' outlook reflects S&P’s belief in current economic policies

The Ministry of Finance says the "stable" outlook that Standard and Poors has given this country, reflects a belief that the current economic policies employed by the Government are working.

The Ministry says fiscal and monetary policy adjustments also contributed to the stable outlook.

The Ministry issued the following statement Tuesday morning:

"On April 21, 2017, Standard and Poor’s (S&P) lowered its long-term sovereign credit ratings for the Republic of Trinidad and Tobago from “A-” to “BBB+”.

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