Moderator: 3ne2nr Mods
Here's a look at the top 10 announcements of the 2017 National Budget.
1. Diesel price raised by 15% to $2.30.
2. Property Tax returns, with a flat rate of three percent to be applied under the old Act
3. Online tax takes effect October 20 - 7% charge on purchases brought in via courier companies or air freight
4. New tax bracket of 30% on individuals whose income exceed $1 million per annum
5. No immediate sanctions on FATCA
6. More affordable housing to come on stream in 2017, with the construction of 2500 homes
7. Tobago to get new international airport terminal
8. New gas fields to come on stream in 2017, 2018
9. Increased tax on alcohol (20%), tobacco (15%)
10. GATE reform expected to save $150 million by 2018
11. 25 percent rebate on households with electricity bill of $300 or lower
12. No taxes on agro-processing operations - must be 75% processed, grown or harvested in T&T.
Total estimated expenditure: $53.475b
Total estimated revenue: $47.441b
Oil priced at $48-50
Gas priced at $2.25/MMBTU
Allocations as follows:
National Security: $7.625b
Education: $7.222b
Health Sector: $6.250b
Transport: $2.087b
Public Utilities: $3.293b
Works and Transport: $2.087b
Local Development and Local Government: $1.919b
Agriculture: $766M
Housing: $664M
So what's the deal with premium? Where does that extra money go?bluefete wrote:But there is no longer a subsidy on super!!!!!
More pain and pressure.
and the obvious gas increase (most likely they tack on another 15% so Diesel is $1.98 and Super is $3.58). If they like round numbers they may just increase it to $2.00 for Diesel and $3.60 for Super.
VexXx Dogg wrote:My thoughts:
Vice Tax: Alcohol, Cigs and Imported food may have a tax increase
Skybox tax: Will come in some form or fashion - suspect an increase across the board in import duties rather than online shopping tax
Property Tax will be back.
Increase in Stamp duty and other real estate related charges
Increase in cost for DP/Passports/other related services
Increase in Fixed penalty tickets and other fines
Complete Removal of fuel subsidy.
Increase in car registration taxes, luxury cars will be even more expensive. Maybe a bracket shakeup.
pete wrote:Number of people I've seen who say they brought in iPhones or other high end phones and claim they pay shipping and duty of like $200 is fairly obvious the country is losing a crapload of taxes with the couries.
cherrypopper wrote:Yup 10k to clear a container with a million and more in electronics. .
niso wrote:
Free health care services to ONLY citizens
SPK1983 wrote:and the obvious gas increase (most likely they tack on another 15% so Diesel is $1.98 and Super is $3.58). If they like round numbers they may just increase it to $2.00 for Diesel and $3.60 for Super.
Um, either you're not living in Trinidad or don't buy your own fuel - those diesel/super prices are what we currently pay since the mid-budget review!
If they do another round of increases(15% bump), then we're looking at approx. $2.28/L for diesel, and $4.12/L for super.
pete wrote:Number of people I've seen who say they brought in iPhones or other high end phones and claim they pay shipping and duty of like $200 is fairly obvious the country is losing a crapload of taxes with the couries.
Return to “Ole talk and more Ole talk”
Users browsing this forum: No registered users and 95 guests