Light bills to get heavier

People in Trinidad and Tobago with “champagne” taste will have to spend more for certain imported alcohol and those who consume electricity exceeding 3,000 kilowatt-hours per billing period will also face higher bills.

From higher taxes on petroleum companies, luxury alcohol and high electricity consumption to a crackdown on tax loopholes and non-compliant businesses, Finance Minister Davendranath Tancoo yesterday unveiled several revenue-raising measures in the 2027 national budget in the Parliament.

The measures, which mostly take effect from January 1, 2027, are aimed at collecting hundreds of millions of dollars in additional revenue while protecting lower-income households and essential goods from increased taxation.