Home' Trinidad and Tobago Guardian : December 31st 2013 Contents A21
Tuesday, December 31, 2013 www.guardian.co.tt Guardian
MINISTRY OF FINANCE AND THE ECONOMY
INLAND REVENUE DIVISION
INTEREST ON QUARTERLY TAX INSTALMENTS
Are You Required To Pay Tax By Quarterly Instalments???
You are reminded that Quar
ou are reminded that Quar ter
Tax Instalments are due and pa
ax Instalments are due and payyab
able on or
of each y
of each year
TE: Calculation of y
Calculation of your Quar
our Quar ter
poration Instalments f
ation Instalments for the
current year of income
ear of income is based on an estimated chargeab
is based on an estimated chargeable income
le income, which is the
, which is the
chargeable income of the pre
le income of the previous y
vious year of income
ear of income.
TE: Calculation of y
Calculation of your Business Le
our Business Levy and Green Fund Le
vy and Green Fund Levy Quar
Instalments is based on the actual g
is based on the actual gross sales/receipt f
ross sales/receipt for the respectiv
or the respective quar
ayments not made b
yments not made by these dates will accrue interest at the rate of 20%
y these dates will accrue interest at the rate of 20%
per annum fr
um from the due dates to the date of pa
om the due dates to the date of payment.
This interest amount will be inc
This interest amount will be included in the
luded in the
Notice of Assessment f
Notice of Assessment for the respective
or the respective Y
Year of Income
ear of Income .
Taxpayer Relations Section
"Changing the way we interact with people!"
The price of oil drifted around US$100 a barrel
Monday, supported by a large fall in US crude sup-
plies in thin trading ahead of the New Year s hol-
By mid-afternoon in Europe, benchmark US crude
for February delivery was down 29 cents to US$100.03
in electronic trading on the New York Mercantile
Exchange. On Friday, the Nymex contract rose 77
cents to US$100.32 a barrel, closing above $100 for
the first time since October 18 on prospects of a US
The US Energy Information Administration said
Friday that US crude stockpiles fell 4.7 million barrels
the week ending December 20. It was the fourth
straight week of draws in crude stocks.
While signs of an improving economy in the US
have supported prices, analysts noted that oil con-
sumption in other parts of the world could be held
back by a strengthening dollar, which makes oil more
expensive for foreign economies.
"The recovery of the US economy is fueling expec-
tations of higher oil demand in the US," said Olivier
Jakob of Petromatrix in Switzerland. "But on a world-
wide basis the stronger US dollar that comes with
an improvement of the US economy is a negative
for oil demand growth."
Others noted that interest from financial speculators
would help push oil prices higher.
"Look for the price surge to continue into these
final days of 2013, and the first days of 2014," said
the Kilduff Report, edited by Michael Fitzpatrick.
"New money will be put to work in commodities,
causing part of the rise."
Brent crude, a benchmark for international oils,
was down 60 cents to US$111.58 a barrel on the ICE
Futures exchange in London.
Brent s decline was attributed to reports that some
of the oil production, refinery and export facilities
in Libya---which has been struggling to remain in
operation since the 2011 civil war that ousted Moam-
mar Gadhafi---were back in business.
Customers purchase fireworks at
an outlet in central Trinidad
yesterday. Several fireworks
retailers said that customers were
spending between $500 and $1000
to ring in 2014 with pyrotechnic
displays. Nadia Ghany, operations
manager at Firepower Fireworks in
Chaguanas, said sales had
increased compared to 2012
figures. Ghany said her company
also does wholesale and several
new fireworks retailers are now in
operation. PHOTO: SHASTRI BOODAN
NEW YORK---The stock market ended a quiet Mon-
day mostly where it began as investors shut their
books for what has been an extraordinary year on
Traders had little corporate or economic news to
work through. The bond market was quiet as well.
The yield on the benchmark ten-year Treasury note
continued to hover near three per cent.
The Dow Jones industrial average moved less than
30 points the entire day, the narrowest range for the
index since February 2007. Approximately 2.3 billion
shares changed hands on the New York Stock
Exchange, 40 per cent less than average.
The Dow ended the day up 25.88 points, or 0.2
per cent, to 16,504.29.
"The very narrow range reflects that there s not
a lot of news out there and a lot of investors positions
are closed for the year," said Alec Young, chief global
strategist with S&P Capital IQ.
The Standard & Poor s 500 index fell less than a
point to 1,841.07 and the technology-heavy Nasdaq
composite fell 2.40 points, or 0.1 per cent, to 4,154.20.
Walt Disney rose $1.88, or three per cent, to $76.23,
the most in the S&P 500. (AP)
Stocks barely budge in
quiet end-of-year trading
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