There is an op­por­tu­ni­ty to bring added for­eign ex­change in the fi­nan­cial sys­tem through the prop­er­ty tax says econ­o­mist Dr Vaalmik­ki Ar­joon. He was Speak­ing with Guardian Me­dia on Sat­ur­day when the Ch­agua­nas Cham­ber of In­dus­try and Com­merce held its Health Fair at the NCIC Na­gar, Ch­agua­nas.

Ar­joon said “In­stead of bThere is an op­por­tu­ni­ty to bring added for­eign ex­change in the fi­nan­cial sys­tem through the prop­er­ty tax says econ­o­mist Dr Vaalmik­ki Ar­joon. He was Speak­ing with Guardian Me­dia on Sat­ur­day when the Ch­agua­nas Cham­ber of In­dus­try and Com­merce held its Health Fair at the NCIC Na­gar, Ch­agua­nas.

Ar­joon said “In­stead of bur­den­ing house­holds and small busi­ness­es with this tax at the ini­tial stages, the state could have first levied the tax on multi­na­tion­als with a prop­er­ty val­ue of at least $300 mil­lion, both on and off­shore. They could pay the tax in US dol­lars, or if they have to pay in TT, they would like­ly have to get the TT by sell­ing forex to the banks. Ei­ther way brings an in­jec­tion of forex in­to the sys­tem.” bur­den­ing house­holds and small busi­ness­es with this tax at the ini­tial stages, the state could have first levied the tax on multi­na­tion­als with a prop­er­ty val­ue of at least $300 mil­lion, both on and off­shore. They could pay the tax in US dol­lars, or if they have to pay in TT, they would like­ly have to get the TT by sell­ing forex to the banks. Ei­ther way brings an in­jec­tion of forex in­to the sys­tem.”

He said it is es­sen­tial not to make Small and Mi­cro En­ter­pris­es (SMEs) heav­i­ly re­ly­ing on on­line cred­it card pur­chas­es the scape­goats for our forex chal­lenges, as there are tra­di­tion­al­ly oth­er sig­nif­i­cant sources of forex leak­ages.