Wednesday 14 November, 2018

Gov't begins work on Revenue Authority

Government is moving ahead with its plans for the establishment of the Trinidad and Tobago Revenue Authority (TTRA).

Finance Minister Colm Imbert indicated in his presentation of the 2018 Budget that Government had taken a decision to establish the TTRA.

The TTRA, a new Government agency, will be responsible for the collection of government revenue and the provision of other services for the protection of government revenue, including investigation of tax evasion, the conduct of audits and border protection. 

The Authority will take on the powers, responsibilities and functions of the Board of Inland Revenue and the Customs and Excise Division under the provisions of the Exchequer and Audit Act and all other relevant revenue legislation and regulations.

The Finance Ministry has guaranteed that as part of this move any member of staff who desires to transition to the TTRA will have a position at the organisation.  

Staff at the BIR and Customs and Excise Division will have the option to transition from their respective positions to the TTRA at terms and conditions no less favourable than those that they currently enjoy.

However, staff who do not wish to transition to the TTRA would be able to remain in the Public Service at terms and conditions no less favourable than those they now enjoy.

One objective of the TTRA is to better compensate, incentivise, train and equip staff to execute their duties more efficiently and effectively, the Ministry said.  

The Ministry has already begun the process of mapping the human resources in both agencies.

All categories of staff – permanent, temporary, contract, monthly-paid and daily-paid – will be mapped so that the interest of all staff would be protected, the Ministry said.