CHAPTER 75:01 - Inland Revenue Division

Corporation Tax Act Mac 1
Vol. 1
(a) distributions, other than preference dividends, received by a
company from a resident company;
(aa) distributions received by a resident company from the Export
Import Bank over a period of ten years commencing from the date
of the initial injection of private sector funds into the Export
Import Bank; Act No. 37 of 2000*
(b) profits of an investment company;
(c) profits of a local authority arising from its activities as such as
well as from any trade or business carried on by such local authority;
(d) profits arising from a trade or business carried on by a cooperative
society so registered under any written law in force in
Trinidad and Tobago;
(e) the profits of any sporting body of persons, that are approved
by the President by writing under his hand, derived from public or
private subscriptions or donations, whether by deed of covenant or
otherwise, or derived from charges for admission to witness sporting
events, or from the provision of refreshment, to patrons who
witness sporting events;
(f) the profits of a trade union registered under the Trade Unions
Act, being a trade union which is precluded by its rules from assuring
to any person a gross sum exceeding nine hundred and sixty
dollars or an annuity exceeding two hundred and forty dollars per
annum in so far as such profits are applicable and is applied solely
for the purpose of provident benefits, and for the purposes of this
paragraph the expression "provident benefits" shall be taken to include
any payment expressly authorised by the rules of the trade
union, which is made to a member during sickness or incapacity
from personal injury or while out of work or to an aged member by
way of superannuation, or to a member who has met with an accident,
or has lost his tools by fire or theft, and includes a payment in
discharge or aid of funeral expenses on the death of a member, or
the wife of a member, or as provision for the children of a
deceased member;
Ch.88:02
* Effective 25 th September 2000
BIR Mac Edition 91/01 Page 190