To remove Trinidad and Tobago from the non-cooperative jurisdictions for tax purposes list of the European Union, the Base Erosion and Profit-Shifting Inclusive Framework (Country by Country) Reporting Bill 2023 was laid in the Parliament.
The debate, which began in the Senate today, seeks to provide country-by-country reporting legislation to meet obligations to the Base Erosion and Profit Shifting (BEPS) Inclusive Framework.
Minister of Finance, Colm Imbert, said it is important for this country to pass the Bill to get for the first time, country by country reporting on multinational companies that operate in Trinidad and Tobago.
The Minister said multinational groups will now have to disclose a breakdown of their economic activity.