If Alutrint is such a good “economic fit” ( Philip Julien) why is it being granted so many tax goodies?
Legal Notice No 161
The Fiscal Incentives Act: 85:01
ORDER
Made by the President Under Section 10 of the Fiscal Incentives Act
THE FISCAL INCENTIVES (ALUTRINT) ORDER, 2008 . . .
The Company classified as a highly capital intensive enterprise under 9(2) of the Act, is granted in respect of the approved products, for a period of ten years commencing from the production day –
(a) total relief from income tax or dividends or other distributions, other than interest, out of profits or gains derived from the manufacture of approved products in accordance of the provisions of Section 6(I) of the Act; and
(b) exemption from value added tax in accordance with Section 44(g) of the Value Added Tax Act. . .
Dated this 17th day of October 2008
A.Leung Woo-Gabriel
Secretary to Cabinet
Plus a heavily subsidized gas goodie!
SHOW US THE ALUTRINT ACCOUNTS BOSS!
Posted by aka_lol on July 24, 2009 at 1:18 pm
I just read this article and think the people with the knowledge would provide the best response.
http://guardian.co.tt/business/business-guardian/2009/07/23/are-tt-s-environmentalists-anti-people
Posted by rheamungal on July 24, 2009 at 4:01 pm
Please read GreenTnT response to this article :
I’m confused about the title of this article. Shouldn’t it just have said “The reasons why the smelter is a good idea” ??
Why do you call environmentalist ‘anti-people’ (or suggest it)? You didn’t mention the health concerns, the very real health concerns. Trying to preserve people’s good health, that is pro-people.
You didn’t mention that the 2.6 billion dollars could be better spent fixing the poor infrastructure of our roads, schools, hospitals, government offices, housing, water supply, agriculture sector, etc etc. The government prefers to pump all this money into ONE destructive, destined to not make a profit industry. Teaching people to fish, that is pro-people.
T&T is a re-active society. We wait for things to happen and then try to fix it. The anti smelter activists are a group of pro-active people who are trying to stop the problem at the right time and PREVENT a disaster from happening.
Reduce, reuse, recycle. Keep T&T a paradise!
GreenTnT.org
Posted by aka_lol on July 25, 2009 at 1:28 pm
Good response.
BTW, there is no cost-benefit analysis for the smelter since it is yet another whim and fancy project.
Posted by ramz on July 31, 2009 at 2:47 am
i agree,,,this is a whim and fancy project calculated to destroy the environment, deceive the public and facilitate corruption.