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Mid Year Review of 2015/16 Budget April 8 2016

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Mid Year Review of 2015/16 Budget April 8 2016

Postby TriniAutoMart » April 8th, 2016, 2:23 pm

Updates on the results of the Mid Year Review.

The main issues are the Gas Subsidy, New Taxes, Pension Plans for Arcelor Mitall workers.

Live video link for sitting happening today (08/04/16)



The revised budget for 2016 is TT$59 billion in expenditure.
Revenue is TT$44 billion. Fiscal deficit is 4 percent of GDP
• Imposition of increases on taxes for gaming, alcohol and tobacco industry
There will be increased taxes on alcohol and tobacco products to come into effect by May 2016, after legislation is passed
Only 3 of estimated 250 Private Members' Clubs have made statutory deposits; concerted effort to increase tax admin

• 50 percent increase in the customs duties and Motor Vehicle Tax on luxury vehicles with engine size that exceeds 1999ccs, with immediate effect.
• "A Levy of 7 percent on online purchase of goods and services through the internet from retail companies resident overseas that are not subject to taxes in Trinidad, for example, Walmart, Amazon, Dell and so on.
"This is a significant area of foreign exchange demand which is putting a strain on our reserves.
"The Tax will help manage the increase in foreign exchange outflows.
"It will take effect by Sept 2016," said the Minister of Finance.
• 50% of arrears to public servants by end of June 2016
• Price of super gasoline will be increased by 15% to $3.58 and diesel also by 15% to $2/litre
• CEPEP will be returned to its original moorings in 2017 when government will reduce its direct support for contractors.
CEPEP was never intended to be a permanent program, but a business incubator.
These low productivity programs have distorted the labour market.
URP will be restructured to include substantive community construction projects, with agriculture in rural areas
• 50 percent increase in the customs duties and Motor Vehicle Tax on luxury vehicles with engine size that exceeds 1999ccs, with immediate effect
• Over US$300M injected into economy by Central Bank in last 3 mths
The Inter American Development Bank (IADB) has determined that the mass transit system is too expensive and not feasible at this time.
The government will therefore place emphasis on improving the road infrastructure across the country
• A new GATE program will be announced in time for the start of the new term with the aim of conserving expenditure to make a paradigm shift to a better alignment with the country’s development means. A committee set up to review Gate will give its report by July 2016

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby j.o.e » April 8th, 2016, 2:31 pm

They haven't reached the mid year review , everything mentioned above is from Questions to the Prime Minister and Urgent Questions section

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby BRZ » April 8th, 2016, 2:41 pm

they cant reach there yet due to opposition terrible behavior thus far, speaker had to remind them time and time again to conduct themselves properly!

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby pete » April 8th, 2016, 2:42 pm

It has begun

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby TriniAutoMart » April 8th, 2016, 3:19 pm

7% tax on internet shopping/online purchases for foreign goods not taxed locally
To take effect from Sept 2016

Increased taxes on alcohol and tobacco products

Increased taxes on luxury vehicles by 15% (not 50% my bad)

Super is now $3.58
Diesel is now $2.00
Last edited by TriniAutoMart on April 8th, 2016, 4:19 pm, edited 2 times in total.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby maj. tom » April 8th, 2016, 3:26 pm

in addition to the custom duties and vat? wtf!

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby K74T » April 8th, 2016, 3:29 pm

CNG, Hybrid vehicles up to 1990cc will be exempted from taxes

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby *$kїđž!™ » April 8th, 2016, 3:31 pm

Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby Seeker » April 8th, 2016, 3:32 pm

No MVT on CNG and Electric vehicles....hmmn

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby zoom rader » April 8th, 2016, 3:37 pm

You all got what you voted for.

Take it in all yuh phiffen,,

Great is the PNM

Suit case trade will now start back again
Last edited by zoom rader on April 8th, 2016, 3:38 pm, edited 1 time in total.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby Team Loco » April 8th, 2016, 3:38 pm

oh joy!

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby Phone Surgeon » April 8th, 2016, 3:38 pm

ummmm....50% tax on luxury vehicles?

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby 2WNBoost » April 8th, 2016, 3:38 pm

*$kїđž![TRADE MARK SIGN] wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....

The same way diesel became popular for private vehicles owing to the lower fuel cost, CNG and hybrids are being promoted as the alternatives.
Commercial fleet operators should seriously consider conversion to CNG to lower operating costs.
It's time we fall in line with global trends.
If not for the environmental value but the economic benefits.
Last edited by 2WNBoost on April 8th, 2016, 3:38 pm, edited 1 time in total.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby *$kїđž!™ » April 8th, 2016, 3:39 pm

Seeker wrote:No MVT on CNG and Electric vehicles....hmmn

Wasn't this always so....

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby zoom rader » April 8th, 2016, 3:40 pm

*$kїđž!™ wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....


If any other government did this there would have been riots this afternoon.

Ppl under PNM are numb to abuse

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby zoom rader » April 8th, 2016, 3:42 pm

AYSN wrote:ummmm....50% tax on luxury vehicles?



What classifies a luxury vehicle?

Hilux?

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby *$kїđž!™ » April 8th, 2016, 3:42 pm

2WNBoost wrote:
*$kїđž![TRADE MARK SIGN] wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....

The same way diesel became popular for private vehicles owing to the lower fuel cost, CNG and hybrids are being promoted as the alternatives.
Commercial fleet operators should seriously consider conversion to CNG to lower operating costs.


This is fing sheit they suppose to put things in place....example more cng filling stations.....and having a subsidy on the chm kits.....where d ass I go I g to look for cng filling stations cause there are none in my area plus facing those long lines to full up.....

People we can't accept this.....
And sometomes you would have to full twice a day......

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby *$kїđž!™ » April 8th, 2016, 3:44 pm

zoom rader wrote:
*$kїđž!™ wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....


If any other government did this there would have been riots this afternoon.

Ppl under PNM are numb to abuse


So true buddy....those ppl who put them in power are really quiet now eh...take it in yuh arse. Sad thing I Haifa suffer silently too......

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby W2J » April 8th, 2016, 3:45 pm

TriniAutoMart wrote:7% tax on internet shopping/online purchases for foreign goods not taxed locally
To take effect from Sept 2016

Increased taxes on alcohol and tobacco products

Increased taxes on luxury vehicles by 50%

Super is now $3.58
Diesel is now $2.00


what is considered Internet shopping? Amazon and Ebay?

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby Habit7 » April 8th, 2016, 3:45 pm

zoom rader wrote:
*$kїđž!™ wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....


If any other government did this there would have been riots this afternoon.

Ppl under PNM are numb to abuse


But is exactly what UNC promised to do. Were they lying?

IMG_0041.JPG

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby bluefete » April 8th, 2016, 3:48 pm

W2J wrote:
TriniAutoMart wrote:7% tax on internet shopping/online purchases for foreign goods not taxed locally
To take effect from Sept 2016

Increased taxes on alcohol and tobacco products

Increased taxes on luxury vehicles by 50%

Super is now $3.58
Diesel is now $2.00


what is considered Internet shopping? Amazon and Ebay?


Well, duh!!!!!!!!!!!!!
Last edited by bluefete on April 8th, 2016, 3:50 pm, edited 1 time in total.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby Kalisnakov » April 8th, 2016, 3:49 pm

Who red n ready!!!!! We'll have 2 eat sh!t jus now

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby bluefete » April 8th, 2016, 3:50 pm

Chin get through with his illegal Invaders bay development. Bi

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby *$kїđž!™ » April 8th, 2016, 3:52 pm

Kalisnakov wrote:Who red n ready!!!!! We'll have 2 eat sh!t jus now


They will tax the sheit outta you arse to....

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby zoom rader » April 8th, 2016, 3:53 pm

Habit7 wrote:
zoom rader wrote:
*$kїđž!™ wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....


If any other government did this there would have been riots this afternoon.

Ppl under PNM are numb to abuse


But is exactly what UNC promised to do. Were they lying?

IMG_0041.JPG



Yeah but where does it say PP was going to raise Super , Diesel and Vat in online shopping.

Stop spreading yur PNM propaganda crap.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby *$kїđž!™ » April 8th, 2016, 3:54 pm

Time for elections people.....

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby Habit7 » April 8th, 2016, 3:55 pm

zoom rader wrote:
Habit7 wrote:
zoom rader wrote:
*$kїđž!™ wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....


If any other government did this there would have been riots this afternoon.

Ppl under PNM are numb to abuse


But is exactly what UNC promised to do. Were they lying?

IMG_0041.JPG
]



Yeah but where does it say PP was going to raise Super , Diesel and Vat in online shopping.

Stop spreading yur PNM propaganda crap.
The first item circled said there will be increases in Super and Diesel beside Howai constantly preaching the removal of fuel subsidy.
Last edited by Habit7 on April 8th, 2016, 3:56 pm, edited 1 time in total.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby W2J » April 8th, 2016, 3:55 pm

bluefete wrote:
W2J wrote:
TriniAutoMart wrote:7% tax on internet shopping/online purchases for foreign goods not taxed locally
To take effect from Sept 2016

Increased taxes on alcohol and tobacco products

Increased taxes on luxury vehicles by 50%

Super is now $3.58
Diesel is now $2.00


what is considered Internet shopping? Amazon and Ebay?


Well, duh!!!!!!!!!!!!!


is it limited to Amazon and Ebay only? how are they going to determine if something was purchase via the internet? or does it mean every time I use my credit card for foreign purchases I get charged 7%
Last edited by W2J on April 8th, 2016, 3:57 pm, edited 1 time in total.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby zoom rader » April 8th, 2016, 3:56 pm

W2J wrote:
TriniAutoMart wrote:7% tax on internet shopping/online purchases for foreign goods not taxed locally
To take effect from Sept 2016

Increased taxes on alcohol and tobacco products

Increased taxes on luxury vehicles by 50%

Super is now $3.58
Diesel is now $2.00


what is considered Internet shopping? Amazon and Ebay?



No once it reach ur sky box then customs will add the 7% + 12.5% and then duties

So if u bringing in car parts u gonna pay
30+7+12.5. = 49.5%

Correct me if I am wrong
Last edited by zoom rader on April 8th, 2016, 3:57 pm, edited 1 time in total.

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Re: Mid Year Review of 2015/16 Budget April 8 2016

Postby bluefete » April 8th, 2016, 3:57 pm

zoom rader wrote:
Habit7 wrote:
zoom rader wrote:
*$kїđž!™ wrote:Hearing gas and diesel going up again....wtf is wrong with these people.....
Are we going to take theses ridiculous tax increase and shiet just so.....

We already struggling to make ends meet to put food on the table...six mths ago price of gas went up....now another increase.....nah boy...they over doing it......

Fack is this.....


If any other government did this there would have been riots this afternoon.

Ppl under PNM are numb to abuse


But is exactly what UNC promised to do. Were they lying?

IMG_0041.JPG



Yeah but where does it say PP was going to raise Super , Diesel and Vat in online shopping.

Stop spreading yur PNM propaganda crap.


I will say this.

When the UNC was in office in 1995 and 2010, regardless of oil prices, they did not tax the population like the PNM.

The thing is, if they did not thief and mismanage the economy so effin much, our economy would have been so much better.

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