Investor Presentaiton

Tax Leader's thoughts K Angelique Bart Tax & Legal Services Leader It should be noted that while in general terms, the tax legislation requires taxpayers to pay quarterly corporate taxes based on their previous year's taxable profits, taxpayers should be aware that the legislation also provides that upon approval by the Inland Revenue Division, they can pay a reduced amount without penalty. From a cash management perspective, a Pay-As-You-Earn (PAYE), Value Added Tax (VAT) and Corporation Tax health check may in part alleviate some financial symptoms associated with the pandemic and slowdown of the economy. Against this backdrop, the Honourable Colm Imbert, Minister of Finance, presented on 5 October 2020, the Government of Trinidad and Tobago 2021 national budget under the theme “Resetting the Economy for Growth and Innovation”, the first national budget of this recently re-elected Government. The 2021 national budget is based on an estimated oil price of US$45 per barrel and gas price of US$3.00 per MMBtu. Total expected revenue is estimated to be TT$41.364bn and total expenditure for fiscal 2021 has been budgeted at TT$49.573bn. Consequently, a fiscal deficit of TT$8.209bn or 5.6% of Gross Domestic Product (GDP) is expected. The foreign exchange reserves and the Heritage and Stabilisation Fund are circa US$7bn and US$6bn, respectively. What's Inside 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 8

View entire presentation