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Imbert denies Mark’s claims on tax breaks for energy firm, apts
Colm Imbert -
FINANCE Minister Colm Imbert at a virtual briefing on Friday rejected allegations by Opposition Senator Wade Mark of any improper benefits from tax-breaks in the recent Finance Bill 2020 which enacts measures in the national budget.
Mark had alleged a clean energy firm would questionably get a hefty tax break in getting listed on the TT Stock Exchange, while Imbert as an apartment builder would benefit from a tax break for first-time house buyers.
The senator had said MPC Caribbean Clean Energy Ltd was a German solar/wind energy firm with a facility in Costa Rica, for whom Ansa McAl was a co-investor.
Mark: ‘Rich man’s bill’ favours wind/solar company
Oppsition senator Wade Mark
WHILE Finance Minister Colm Imbert had touted measures in the Finance Bill 2020 aimed at helping hundreds of thousands of ordinary people gain $3,000 in an annual tax allowance, Opposition Senator Wade Mark called it “a rich man’s paradise.”
He lamented tax breaks aimed at a German clean energy firm in which local conglomerate Ansa McAl has invested.
Mark dubbed the bill ad-hominem legislation, that is, a law aimed at a specific person/entity, referring to the wind and solar energy company.
The bill, he said, was “extremely disturbing, worrying, troubling and concerning.”