TTPS’ Illicit Trade Training
The Trinidad and Tobago Manufacturers’ Association (TTMA) successfully coordinated a webinar on June 4th 2020 in collaboration with the Trinidad and Tobago Police Service and Crime Stoppers Trinidad & Tobago on the topic of illicit trade. The session was well attended by over 120 police officers throughout the country. The agenda included details about the overall trade, its link to organized crime and human trafficking, money laundering and the economic impact associated with tax evasion, as well as non-compliance and penalties and fines associated with this trade. This webinar was a Launchpad of a series of initiatives to combat the issue.
The police officers were eager to gain a better understanding of the issue and the initiatives discussed to assist and support in the fight against illicit trade overall. Opening remarks were delivered by both the Deputy Commissioner of Police, Mr. Jayson Forde and TTMA’s President, Ms. Franka Costelloe. Key presenters at the webinar included Mr. Darrin Carmichael of Crime Stoppers Trinidad & Tobago and from the tobacco industry, Ms. Josiane Khan, Mr. Gervon Abraham and Ms. Rowan Brathwaite.
Financial Management in a COVID-19 Environment
The Trinidad and Tobago Manufacturers’ Association successfully hosted a webinar on June 18th 2020 entitled ‘Financial Management in a COVID-19 Environment’. The webinar was well attended by representatives from various small and medium sized businesses within and outside of the membership. Presentations at the session were delivered by Mr. Navin Dookeran (CEO, The Export Import Bank of Trinidad and Tobago), Ms. Sana Ragbir (General Manager – First Citizens Investment Services Limited and TTMA Director) and Ms. Anna Mouttet (Associate Partner, Ernst and Young Services Limited). Opening remarks were delivered by Ms. Tricia Coosal (TTMA Vice President and Advocacy Committee Chairperson) and closing remarks were conveyed by Dr. Mahindra Ramesh Ramdeen (CEO – TTMA).
Participants were enlightened on the following topics:
- Cash Flow Management – cash flow planning, value chain, dual currency management
- VAT Bonds – the application process, internal workings of the VAT bond, implications and ways to make the VAT bond work for you
- The Government proposed SME Loan Facility – qualifying criteria and application process
- Tax Environment Update for the Manufacturing Industry – tax incentives, allowances, duty concessions, quarterly installments and e-tax