Investor Presentaiton
Budget overview (continued)
K
Manufacturing Sector
The manufacturing sector has been a faithful stalwart over the years but for numerous reasons, it has not
grown to the level needed. We welcome the Minister's commitment to support the sector in order to double its
output by 2024, expand employment and exceed its current contribution of approximately 19 percent to GDP. In
particular, we applaud the transformative initiatives such as charging Evolving Tecknologies and Enterprise
Development Company Limited (eTeck) with the responsibility to become a facilitator of commercial
development and targeting Firms in high-value manufacturing areas. In particular those exporting niche
products, including our chocolate, our native Trinidad Moruga scorpion pepper and the Moruga hill rice, to
name a few, are welcomed measures.
Additionally, the current free zone regimes will be revamped within a new Special Economic Zone Framework
which will build on the prior Free zone experience. The Minister also proposed to consider a new aluminium
industry as well as other high-value manufacturing such as electronic assembly steelpan, textile and garment
manufacturing for the domestic fashion industry, cosmetic and petrochemical production and pharmaceutical
and nutraceuticals, including medical marijuana.
What's Inside
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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
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About PwC
PwC | Trinidad and Tobago 2021 national budget
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