Port-of-Spain: The Opposition PNM is today asking-did the prime minister breach the Income Tax Act's sections that deal with secrecy and confidentiality when she announced after meetings in Austrailia and London, BP had paid $1 billion in outstanding taxes.
The question was raised in the Senate this afternoon.
Last November Prime Minister Kamla Persad-Bissessar announced after meeting with officials of oil giant BP in Australia and London, the company made the payment to the Central Bank, which represented unpaid corporate taxes from 2001-2006.
In the Senate today PNM Senator Fitzgerald Hinds sought details on the payment as he posed the question to the Finance Minister Winston Dookeran enquiring when did the Board of Inland Revenue and British Petroleum – Trinidad and Tobago (BPTT) settle an agreement, with respect to the payment of corporation taxes owed by BPTT, in the amount of over $1 billion?
Minister Dookeran revealed he was advised that to reveal that information would be a breach of the Income Tax Act Section 41 that deal with secrecy and confidentiality of such information.
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