By Sue-Ann Wayow
FINANCE Minister Colm Imbert is being called upon to state an expiry date of the tax exemption on hybrid vehicles.
The call comes from President of the Trinidad and Tobago Automotive Dealers Association (TTADA) Visham Babwah.
In a statement on Wednesday, Babwah commended the minister for keeping to the commitment to remove the taxes and also making adjustments that were pointed out by the association.
“This exemption would assist the lower and middle-income citizens to purchase a more fuel-efficient vehicle and also give them the opportunity to contribute to emission reduction,” he said.
However, the lack of an expiry date means that, the exemption could be stopped without notice Babwah said.
He said, “Without an expiry date, the Finance Minister can discontinue this exemption without any notice to the citizens and car dealers, which could have a serious negative impact on importers causing them great financial loss and not being able to fulfill their contractual agreements.”
The Ministry of Finance has stated that the waiver on customs duty, motor vehicle tax and value added tax takes effect from Wednesday.
