Tuesday, November 21, 2017

Revitalise venture capital and let SMEs pay 10% tax*

ICATT board member and KPMG tax services director Nicole Joseph addresses the audience last Thursday, at the annual conference hosted by Institute of Chartered Accountants of T&T. Also part of the panel are First Citizens deputy CEO Jason Julien, Minister in the Ministry of Finance Allyson West and Economic Development Advisory Board member Dr Ronald Ramkissoon. —Photo: STUDIO WORKS LTD


Government needs to revitalise venture capital, and give small and medium enterprises (SMEs) the once-promised reduced tax rate of 10 per cent (as opposed to the 30 per cent now), accountants and economists concurred at the Institute of Chartered Accountants of T&T (ICATT) annual conference at the Hyatt Regency hotel in Port of Spain last week.
At a panel featuring ICATT board member and KPMG tax services director Nicole Joseph, Economic Development Advisory Board member Dr Ronald Ramkissoon, Minister in the Ministry of Finance Allyson West and First Citizens deputy chief executive officer Jason Julien, there was consensus that there are too many unknown tax incentives on the books.

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