Identifier
Created
Classification
Origin
08SECTIN02OF02PORTOFSPAIN546
2008-12-01 17:32:00
UNCLASSIFIED
Embassy Port Of Spain
Cable title:
A VIEW FROM THE TRENCHES: THE TRINIDAD CONOMY AS REFLECTED
VZCZCXRO6984 RR RUEHWEB DE RUEHSP #0546/02 3361732 ZNR UUUUU ZZH R 011732Z DEC 08 FM AMEMBASSY PORT OF SPAIN TO RUEHC/SECSTATE WASHDC 9548 RUCPDOC/DEPT OF COMMERCE WASHDC RUCNCOM/EC CARICOM COLLECTIVE
UNCLAS SECTIN 02 OF 02 PORT OF SPAIN 000546
SIPDIS
SENSITVE
STATE FOR WHA/CAR, CA/VO/F/P CHERYL BODEK
E.O. 12958: N/A
TAGS: ETRD PREL ECON CVIS TD
SUBJECT: A VIEW FROM THE TRENCHES: THE TRINIDAD CONOMY AS REFLECTED
IN VISA APPLICANTS
SELF-MPLOYMENT, THE INFORMAL ECONOMY, TAX COMPLIANCE
-------------- --------------
7. (SBU) At 14%, the self-employed comprise the largest single
segment of our study, with a median wage of $16,661, slightly less
than the overall median. The self-employed work in a variety of
areas, but the sector is dominated by building contractors, food
service vendors/caterers, small shop or market owners and clothing
resellers. (NOTE: Self-employed accountants, architects, engineers
and doctors, for the purposes of this study, were accounted for in
their respective fields of expertise.) While some register their
businesses with the GOTT, many seem to not report income accurately.
Those whose businesses are not registered or who do not pay taxes
are included, by definition, in the informal economy.
8. (SBU) In a conversation with an official from the GOTT Board of
Inland Revenue (BIR),CONOFF inquired about tax compliance rates for
small businesses. The official indicated that tax compliance and
accurate income reporting for the self-employed was largely
non-existent and unenforceable from a resource perspective,
mentioning that the BIR focused on large firms, multi-nationals, and
larger family-owned concerns for revenue collection.
AUSTIN
SIPDIS
SENSITVE
STATE FOR WHA/CAR, CA/VO/F/P CHERYL BODEK
E.O. 12958: N/A
TAGS: ETRD PREL ECON CVIS TD
SUBJECT: A VIEW FROM THE TRENCHES: THE TRINIDAD CONOMY AS REFLECTED
IN VISA APPLICANTS
SELF-MPLOYMENT, THE INFORMAL ECONOMY, TAX COMPLIANCE
-------------- --------------
7. (SBU) At 14%, the self-employed comprise the largest single
segment of our study, with a median wage of $16,661, slightly less
than the overall median. The self-employed work in a variety of
areas, but the sector is dominated by building contractors, food
service vendors/caterers, small shop or market owners and clothing
resellers. (NOTE: Self-employed accountants, architects, engineers
and doctors, for the purposes of this study, were accounted for in
their respective fields of expertise.) While some register their
businesses with the GOTT, many seem to not report income accurately.
Those whose businesses are not registered or who do not pay taxes
are included, by definition, in the informal economy.
8. (SBU) In a conversation with an official from the GOTT Board of
Inland Revenue (BIR),CONOFF inquired about tax compliance rates for
small businesses. The official indicated that tax compliance and
accurate income reporting for the self-employed was largely
non-existent and unenforceable from a resource perspective,
mentioning that the BIR focused on large firms, multi-nationals, and
larger family-owned concerns for revenue collection.
AUSTIN