CHAPTER 75:01 - Inland Revenue Division

Corporation Tax Act Mac 1
Vol. 1
116 (u) profits accruing to a venture capital company; Act No 22 of 1994
(v) short term capital gains accruing to a venture capital company;
Finance Act 5 of 1995
117 (w) with effect from 1st January 1994 profits accruing to a trust
in respect of its unit trust business, being a business of a financial
nature as defined in the Financial Institutions Act, 1993, where the
trustee is a financial institution licensed under the Financial
Institutions Act which sells shares representing interests in the
assets of the trust to beneficiaries under the trust; Finance Act 5 of 1995
118 (x) the profits of BWIA International Airways Limited for the
period 1st January 1995 to 31st December 2001.
Finance Act 1995
(y) the amount or value of the dividends or other distributions paid
to a resident company - Finance Act, 1996
(i) by a trust operated by a financial institution carrying on
unit trust business and licensed under the Financial
Institutions Act, 1993, where the profits of the trust are
exempt from corporation tax;
(ii) under the First and Second Unit Schemes of the Trinidad
and Tobago Unit Trust Corporation established by the
Unit Trust Corporation of Trinidad and Tobago Act; Finance Act 1996
(z) profits of the Export Import Bank for a period of ten years or until
its capital reserves and retained earnings equal its initial capital
investment of thirty-one and one half million dollars whichever is
the lesser, commencing from the date of the initial injection of
private sector funds into the Export Import Bank. Act No. 37 of 2000*
(2) For the purposes of subsection (1)
"sporting body of persons" means a body of persons established for
the purpose of promoting or advancing sporting events, being a
body of persons, to a share in the profits of which no member or
person other than another sporting body of persons is entitled, and
being a body of persons whose profits are applied wholly to the
116 BIR Note: (iv) and (v) effective 1st December 1994
117 BIR Note: Effective 1st January, 1994
118 BIR Note: Effective 2nd February, 1995
*Effective 25 th September 2000
BIR Mac Edition 91/01 Page 193