Over the past 30 years one of the most outstanding aspects of corporate law in Trinidad and Tobago has been the continuing failure of successive governments to either appreciate or acknowledge that there is a distinction between State Enterprises which are companies incorporated under the Companies Act as opposed to State Enterprises which are Statutory Corporations established by an Act of Parliament.
Bank of Nova Scotia Wins in the Privy Council
The Bank of Nova Scotia prevailed in the Privy Council when the Board dismissed the Appeal by the Government of Grenada against the decision of the Court of Appeal of Grenada.
It will be recalled that the case involved a dispute as to whether withholding tax was payable on payments made by the Grenadian branch of the bank to its head office in Canada by way of reimbursement of expenses.
This is a publication which will be disseminated quarterly among professionals involved in the practice of income tax in the Commonwealth Caribbean. The purpose of the Caribbean Tax Law Update (“CTLU”) is to discuss recent decisions and legislative changes which impact on the administration and the practice of tax law in the Commonwealth Caribbean.