T&T Budget 2021
T&T’s Finance Minister Colm Imbert has announced a person earning 7 thousand dollars a month or less will now be exempt from income tax.
Minister Imbert made the disclosure during a three hour long national budget presentation for 2021 in the Lower House on October 5th 2020 with a projected expenditure of over TT $49 billion dollars.
He says this exemption from income tax will take effect on January 1st 2021.
Minister Imbert also revealed fuel subsidy will be removed as of January 2021
Minister Imbert says the government is freezing the filling of all vacancies in the public service for a year and considering extending the retirement age to 65.
The Minister also revealed that 50 million dollars has been allocated to purchase computers for underprivileged students.
He says this will be done in a joint effort between the ministries of Education; Public Information and Digital Transformation; and Social Development and Family Services.
Adura Benjamin on October 17, 2020:
That's a wise decision by the Finance Minister