The American Chamber of Commerce of Trinidad & Tobago (AMCHAM TT) says an online shopping tax is not a good idea. In a release, AMCHAM TT said it took note of statements made by Finance Minister Colm Imbert related to online shopping.
The Finance Minister was asked at a budget analysis luncheon about the tax and he said it was not something he favoured at the time, given that it was too complicated to set up.
AMCHAM said imposing additional taxes on goods purchased online would only hamper an already perfectly functioning system whereby items are brought in to the country via a legally registered courier and the requisite duties and vat are paid on the imported items.
AMCHAM said a system of “de minimus” would be advisable, whereby items under a certain value are not taxed because the paperwork and time spent to collect tax on these items cost more than the actual tax collected.
The Chamber said it recommends a U.S. $200 minimum, but U.S. $800 should be considered. Setting this scheme, AMCHAM TT says, will help focus scarce resources.