Investor Presentaiton

Valued Added Tax and other Indirect Taxation measure K Overview of measure Based on OECD-sourced statistics(*), for the period 2016 to 2018, VAT constituted about 34.11% of the Government's revenue. By contrast, for the same period, the tax on profits derived from energy companies and other companies represented on average respectively 4.11% and 22.29% of government's revenue. Changes to the VAT regime therefore have a high probability to significantly impact revenue collection at a time where the public purse is already under considerable strain. Measure Removal of VAT and importation taxes on certain digital equipment Commentary With effect from 1 February 2016, Schedule 2 of the VAT Act which contains the list of zero-rated items was amended to exclude items such as computers as well as certain food items. Effective 4 September, 2020 the Value Added Tax (amendment to Schedule 2) Order 2020 removed VAT from laptop computers, notebook computers and tablet computers classified under tariff heading no. 8471.30.00 for the period 4 September, 2020 to 31 December 2020. This measure was welcomed in many quarters given the increase in use of such devices, (including for remote working and education), which the COVID-19 pandemic crisis precipitated. What's Inside 2 Click to Navigate Territory Leader's message Tax Leader's thoughts Budget overview Budget fundamentals - 2021 Historical economic data Energy and energy related tax regime Corporation tax Value Added Tax & other indirect taxation Personal Income tax Stamp Duty Summary of other measures Let's talk About PwC PwC | Trinidad and Tobago 2021 national budget 44

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