Money Matters: Firstline Securities Blog

Can Tax Evasion Land you in Jail for Money Laundering?

30 October 2017

What is Tax evasion

Tax evasion is an illegal practice where a person, organisation or corporation intentionally avoids paying his true tax liability. Those caught evading taxes are generally subject to criminal charges and substantial penalties. Definition courtesy Investopedia.com

A Firstline Securities Limited Blog by: Ahamad Hosein

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The 2018 National Budget of the Republic of Trinidad and Tobago

13 October 2017

Changing the Paradigm: Putting the Economy on a Substantial Path –
Part Five – 
Other Areas

A Firstline Securities Limited Blog by: Mike

National Security

National Security and addressing crime and criminality continues to be the Government’s number one priority. National Security is to be allocated TT$6.2371 billion in the 2018 budget making it the second largest component of expenditure after education. Read more…

The 2018 National Budget of the Republic of Trinidad and Tobago

12 October 2017

Changing the Paradigm: Putting the Economy on a Substantial Path – Part Four

The estimates of Revenue and Expenditure for 2017-2018

A Firstline Securities Limited Blog by: Mike

The key figures in the 2018 National Budget

Key to the Minister’s new paradigm is bringing expenditure into line with the available revenue stream and attempting to control the size of the budget deficit that for the outturn of 2017 is estimated to be TT$12.643 billion.

Total revenue has been budgeted at TT$45.74 billion against the estimated outturn for 2017 of TT$37.84 billion. Of this sum TT$37.3 billion has been identified by the Minister as core revenue meaning that it is derived from taxation, royalties, and custom duties. The difference is expected to come from borrowing on the domestic market (TT$4.5 billion) together with the sale of assets (CLICO assets) and drawdowns from a restructured HSF of up to TT$7.5 billion.

Total expenditure has been budgeted at TT$50.5 billion against the estimated outturn for 2017 of TT$48.4 billion.

The expected fiscal deficit for 2018 is the difference between income and expenditure and amounts to TT$4.76 billion. This represents 3.1% of GDP (2017 outturn: 8.4% of GDP).

Revenue estimates are predicated on an oil price of US$52 per barrel and a gas price of US$2.75 per MMBtu. These figures are both below the IMF and World Bank forecasts for oil and gas prices. Read more…

The 2018 National Budget of the Republic of Trinidad and Tobago

11 October 2017

Changing the Paradigm: Putting the Economy on a Substantial Path – 

Part Three: The Path to Diversification

A Firstline Securities Limited Blog by: Mike

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The 2018 National Budget of the Republic of Trinidad and Tobago

10 October 2017

Changing the Paradigm: Putting the Economy on a Substantial Path – Part Two

A Firstline Securities Limited Blog by: Mike

The Energy Sector

Despite low oil and gas prices the Minister believes the energy sector has a “very positive outlook” as a result of new projects coming online in the next three years. Moreover, a new tax regime designed to incentivise increased exploration and production should provide a fillip for additional oil and gas output.

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The 2018 National Budget of the Republic of Trinidad and Tobago – Pt. 1

9 October 2017

…Changing the Paradigm: Putting the Economy on a Substantial Path

A Firstline Securities Limited Blog by: Michael Sims

The 2018 budget represents what the Minister of Finance refers to as a new paradign shift, and a new opportunity to “get things right”, by diversifying the economy away from a reliance on the gift – or is it the curse – of bountiful supplies of oil and gas.

Over the next 5 days we look at the main items in the budget. We would be very interested to hear your views on the 2018 budget. Has the Minister got his sums right?

Feel free to drop us your feedback in the comments below; or on our Facebook,Twitter or Linkedin pages.

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DO YOU SEE US? An Open Plea from a Frustrated T&T Passenger!

22 September 2017

A Firstline Securities Limited Blog by: Winston Gordon

 

Ask anyone, and you can almost guarantee that the general consensus regarding the inter-island transportation between Trinidad and Tobago, be it via sea or air, is that it is nothing short of a royal nightmare!

Citizens are plagued daily by stresses of vessel breakdowns, travel-time irregularities, and all-round lamentably poor customer service.

Today, Firstline Securities Limited’s Executive Manager: Business Development, Winston Gordon, a resident of Tobago, issues (yet another) cry to the powers-that-be, laying bare the frustrations and unbearable inefficiencies which desperately require a speedy and unequivocally sustainable solution!

What is your take on the inter-island transportation issue in T&T?  Feel free to drop us your feedback in the comments below; or on our Facebook, Twitter or Linkedin pages.

Photo Credit: View Link

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Bitcoin, Cryptography and Blockchain Technology…

15 September 2017

..ARE  THESE REALLY COMPONENTS OF  THE INTERNET OF VALUE? – PART III

A Firstline Securities Limited Blog by: Maxine King

Blockchain as the Future Internet of Value

Goldman Sachs believes that blockchain technology holds great potential especially to optimize clearing and settlements, and could represent global savings of up to $6bn per year.

The blockchain gives internet users the ability to create value and authenticates digital information. Users currently transact business directly with one another. It is said that Bitcoin transactions in 2016 averaged over $200,000 US per day. With the ‘so called’ security brought by the blockchain it seems that new internet business can evolve to compete with the traditional institutions of finance, health care, supply chain management and logistics and the list goes on.

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Bitcoin, Cryptography and Blockchain Technology…

14 September 2017

…ARE THESE REALLY COMPONENTS OF THE INTERNET OF VALUE? PART II

A Firstline Securities Limited Blog by: Maxine King

In the first Part of this Blog, I explored a concatenation of topical issues surrounding Bitcoin especially as it related to regulatory pronouncements in various parts of the world, allegations of fraud and illegal fund raising activities and the general performance of the cryptocurrency market. Read more…

Bitcoin, Cryptography And Blockchain Technology…

13 September 2017

…Are These Really Components Of  The Internet Of Value? Part 1

A Firstline Securities Limited Blog by: Maxine King

BITCOIN ACCEPTED HERE”.  That was the sign on the front door of a popular sports bar in Port of Spain, which my friend and I visited for a Friday evening ‘lime’.  I receded and re-read the sign and found it curious that no one paid it any attention; not even my friend who works in the financial sector. I enquired what the procedure was if I wanted to pay via Bitcoin and I was not surprised when the Attendant replied that I had to speak with the Supervisor. My friend said she thought it was some kind of a token for some game.

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