Trinidad and Tobago 2012 - invesTT

Investment Incentives
The Government of Trinidad and Tobago is committed to encouraging
foreign investment in the non-energy sector. Investment incentives
are coordinated through various Government Ministries.
There are many different investment incentives:
• Concessions from import duty on raw materials,
machinery and equipment for approved industrial projects
• Exemption from corporation tax on profits and from tax
on dividends (under the Fiscal Incentives Act and Tourism
Development Act)
• Loss write-off provisions
• Training subsidies for developing new skills
• Provision of industrial sites and developed industrial
accommodation
• Export credit insurance
• Double taxation relief
• Exemption from Value Added Tax on inputs for companies
exporting 80% of production
• Free Zones under Act 19 of 1988
• Venture Capital Companies under Act 22 of 1994
Note: Incentives in some cases are only available to locally
incorporated companies or locally owned companies.
FISCAL INCENTIVES
Fiscal Incentives are benefits granted to large-scale manufacturing
or processing enterprises under the provisions of the Fiscal
Incentives Act, Chapter 85:01 (as amended) that have capital
investment in excess of TT$50 million.
Benefits
Under the Provisions of the Fiscal Incentives Act, a company can
benefit from exemptions from:
(1) Customs duties on the construction of an approved
project
(2) Value Added Tax (VAT); and
(3) Income tax on dividends or other distribution, other than
interest, out of profits or gains derived from the manufacture of
the approved product or service during the tax holiday period.
Eligibility Criteria
Criteria to be met include:
(1) The company must be resident in Trinidad and Tobago,
with the central management and control of its affairs situated
in Trinidad and Tobago.
(2) The company must be an enterprise, producing
approved products or services as indicated by not being on the
list of products on the First Schedule of the Fiscal Incentives
Act, Chapter 85:01 (as amended).
(3) The company must be declared an approved enterprise
under Sections 2 and 12 of the Fiscal Incentives Act, Chapter
85:01 (as amended).
(4) The company must make a contribution towards the Trinidad
and Tobago economy in terms of employment, linkages or
investment.
Application Procedure
Applications for Fiscal Incentives can be done online through
the Fiscal Incentives e-service available through TTBizLink at
www.ttbizlink.gov.tt. To access this e-service, the applicant must
first be registered with TTBizLink.
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