NEWS
‘NETFLIX TAX’
Minister of Finance Davendranath Tancoo has proposed a 12.5 per cent VAT on digital services supplied by foreign providers, which currently include streaming platforms such as Netflix, Hulu, AppleTV, HBO Max and Disney+, and a higher surcharge on high residential electricity consumption. This introduces two additional costs for households in Trinidad and Tobago under the 2027 Budget. The measures form part of nine new revenue-raising initiatives expected to generate $1.18 billion, despite repeated Government assurances that household electricity rates would not rise and Prime Minister Kamla Persad-Bissessar’s pre-budget declaration: “No taxes.” Delivering the 2027 fiscal year package in Parliament yesterday, Tancoo announced a $0.05-per-kilowatt-hour surcharge on residential electricity consumption exceeding 3,000 kilowatt-hours over a two-month billing period. Read more here
POLITICS
Farley 'gutted' by Tobago budget allocation
Tobago House of Assembly (THA) Chief Secretary Farley Augustine has registered strong disagreement with the budgetary allocation granted to the island in the 2027 National Budget, saying he felt “gutted” by cuts to capital development and a reduction in Tobago’s overall percentage of the national purse. Addressing members of the media at the Red House in Port-of-Spain shortly after Finance Minister Davendranath Tancoo presented the budget, Augustine revealed that the direct allocation to the THA had declined from TT$2.9 billion in the previous fiscal year to just over TT$2.7 billion for fiscal 2027. Foremost among his objections was the steep decline in development funding, which he stressed is essential to transforming the island's infrastructure and diversifying its economy. Read more here
BUSINESS
Tancoo: We will restart refinery
The Government is evaluating proposals from a shortlist of local and international investors as it advances plans for the phased restart of the Guaracara refinery at Pointe-a-Pierre, Finance Minister Davendranath Tancoo has said. Delivering the national budget presentation, Tancoo said the Government was pursuing a commercially viable and fully financed arrangement to revive the refinery, which closed in 2018. “We will restart the refinery. We are advancing the phased restart of the Guaracara Refinery at Pointe-a-Pierre. Following receipt of the Comprehensive Report of the Refinery Restart Committee, Government is evaluating proposals from a shortlist of serious local and international investors,” Tancoo said. Read more here
REGIONAL
Farmers’ Conference discussions to shape future of agriculture – Minister Mustapha
Minister of Agriculture, Zulfikar Mustapha, has called for greater collaboration between farmers and the government in shaping the future of Guyana’s agricultural sector. This call was made on Monday at the Farmers’ Conference 2026, which brought together producers, agricultural stakeholders, and regional leaders to discuss the sector’s development and their role in strengthening food security. Hosted under the theme “Innovate, Nourish, Grow: Building a Strong and Sustainable Guyana,” the conference formed part of Agriculture Month 2026 and provided a platform for farmers to share their experiences, identify challenges and contribute recommendations towards a national action plan for agriculture. Read more here
INTERNATIONAL
Bulgaria summons Russian ambassador after ship sinks in Black Sea drone attack
Bulgarian Prime Minister Rumen Radev has summoned the Russian ambassador after two merchant ships were struck by drones off Bulgaria's Black Sea coast. Eleven crew members are missing and one sailor was saved, according to local officials, after one of the vessels sank 17 nautical miles (31km) east of the village of Krapets. The other vessel, Ukrainian owned, was hit by drones 18 nautical miles from the town of Byala and all 15 crew were rescued. Read more here
13th October 2026