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| File: Prakash Ramadhar with then UNC Deputy Leader Kamla Persad-Bissessasr during the Axe the Tax campaign against the previous administration's property tax legislation |
Now as a member of the governing coalition the Legal Affairs Minister is fully behind the introduction of a new Property Tax, which he said is fair and realistic.
When Finance Minister Larry Howai spoke of the plan to introduce a property tax he was emphatic that it would not be the one that the Manning administration wanted to impose. He said it would be a more equitable and fairer tax system that the one the present government scrapped.
When Finance Minister Larry Howai spoke of the plan to introduce a property tax he was emphatic that it would not be the one that the Manning administration wanted to impose. He said it would be a more equitable and fairer tax system that the one the present government scrapped.
Speaking during the budget debate Ramadhar said the proposed new Property Tax will stimulate economic growth.
"One that is fair where the valuations are reasonable and realistic and the income generation from those taxes will be used to uplift the communities from which those taxes come. That is why he speaks for the need for proper consultation with the communities before we go forward. The COP will partner with that," Ramadhar said.
He noted that the last administration's Property Tax would have been based on arbitrary valuations of properties, taxation of those properties without proper consultation and the monies raised from communities would have gone elsewhere and not back into the communities.
He also agreed that a budget deficit is a necessary evil for now. "And I congratulate the Minister of Finance for using tax incentives for home development and land development because it cannot be left to State Agencies to look after those things alone. This worked before, it worked in the 1990s when effectively oil was $9 and gas was less, far far less," he said.
"One that is fair where the valuations are reasonable and realistic and the income generation from those taxes will be used to uplift the communities from which those taxes come. That is why he speaks for the need for proper consultation with the communities before we go forward. The COP will partner with that," Ramadhar said.
He noted that the last administration's Property Tax would have been based on arbitrary valuations of properties, taxation of those properties without proper consultation and the monies raised from communities would have gone elsewhere and not back into the communities.
He also agreed that a budget deficit is a necessary evil for now. "And I congratulate the Minister of Finance for using tax incentives for home development and land development because it cannot be left to State Agencies to look after those things alone. This worked before, it worked in the 1990s when effectively oil was $9 and gas was less, far far less," he said.
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