Investor Presentaiton

Valued Added Tax and other Indirect Taxation measure K Measure Overview of measure Removal of value added tax on the importation of building materials to be used exclusively in connection with approved housing, commercial and industrial development projects, except for certain items such as road paving and aggregate material. This measure applies to projects started on or before 31 December 2022. Commentary This measure will be similar in administration to the tax concessions granted to developers for approved tourism projects and will take effect from 1 January 2021. The unintended issue that seems to arise here is that such projects cannot be completed from locally sourced materials. This seems to be counter-intuitive to buying local both from manufacturers and retailers who have appropriate stock on hand. Further, in light of the challenges with accessing foreign exchange currency, this measure may well exacerbate the acute foreign exchange problem. If the measure was applied to building materials which cannot be sourced then the unintended consequences may be mitigated. 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 47

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