Property Tax on commercial buildings is “not on the table right now.”
This, according to Minister of Trade and Industry, Paula Gopee-Scoon.
Speaking to reporters following a tour of Blue Waters Products Limited on Monday, the Minister assured that the measure is not being contemplated at this time, noting that the private sector will be properly consulted when that time comes.
“But let me give you the position of the Government that it’s not on the table right now. When I say so, it’s not. If you look at—I was just going to say manifesto—you know, when you look at the budget. If you look at the last budget, there’s no mention of an introduction of Property Tax on businesses. So, no mention. I have no idea when, but I’m sure that it will come sometime in the future. But as I said, there would be discussion and conversation with the business community before.”
President of the Trinidad and Tobago Manufacturers’ Association, Roger Roach, said he’s also been assured that the business sector would very much be a part of the consultations whenever that time comes.
“There’s no Property Tax right now on commercial properties, or plant and machinery right now. And when that question was asked, I remember that question was being asked, the Minister of Finance did say that when Property Tax is being contemplated on industrial properties, that he will meet with the Business Associations to discuss the matter fully before implementation.”