TAXES

Unipet shutdown affects thousands

Thou­sands of dri­vers were af­fect­ed yes­ter­day as Unipet’s 21 ser­vice sta­tions across the coun­try re­mained closed when deal­ers sought to send a mes­sage to the Gov­ern­ment that the prof­its they were mak­ing were way too low for them to con­sid­er stay­ing in busi­ness.

The clo­sure of the sta­tions led to pres­sure on the 100-plus NP ser­vice sta­tions that re­mained open as work­ers at those sta­tions found them­selves flood­ed with more ve­hi­cles than they usu­al­ly catered for daily.

Challenges to UNIPET fuel supply network today

Chief Executive Officer of UNIPET, Dexter Riley, says their fuel supply network may be affected today, to some extent.

Mr Riley told us UNIPET is having a challenge with their supplies for today and for much of this week, and that consumers can expect one or two hiccups purchasing gas.

The UNIPET CEO did not confirm whether petroleum dealers will meet today with industry regulators. However, sources indicate such a meeting is scheduled to take place at some point, today.

Lewis: “Need better business environment for real growth…”

The TTMA's Ryan Lewis says it's becoming more difficult to do and get business done in Trinidad and Tobago, and government needs to work towards creating a more enabling environment.

According to Ryan Lewis, increased taxes are hurting businesses, and this is combined with the reality that government's business-related processes and procedures are not as efficient as they should be.

The TTMA head is urging government to start doing what is required to create the enabling environment business needs to reignite the T&T economy.

NLCB: Taxes will not exceed 500,000 dollars

The National Lotteries Control Board is still calculating exactly how much money it will have to pay back to gamblers but says the amount does not exceed half a million dollars. This as the NLCB issued a statement on Friday that it will have to refund all the 10% deducted for the period July 30th to August 4th.
However, NLCB Chairman Eustace Nancis says he doesn't estimate the figure to be more than 300 to 400 thousand dollars.
Initially, the NLCB announced that winnings crossing $1,000 would be taxed at 10%.

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