Investor Presentaiton

Budget overview (continued) K Tourism The tourism sector has been severely affected by the COVID-19 pandemic. The closure of our borders to regional and international travellers has had an immediate and sustained impact on the hotel industry in both Trinidad and Tobago, as well as many service industries like restaurants and bars. Inter-island tourism has also seen a significant decline in activity. Unfortunately, until such time when a vaccine for COVID-19 has been made widely available, the sector is likely to see limited recovery. Additionally, the Prime Minister recently announced the cancellation of the national carnival celebrations for 2021, which will also have a sizable financial impact on the tourism industry. It is hopeful that once Trinidad and Tobago meets the required criteria and can join the Caribbean Community (CARICOM) Travel Bubble initiative, this will allow citizens and visitors in participating countries to travel freely between each other, and it is likely the tourism industry will feel some slight relief. Over the last few months the Government has been working with the Tobago House of Assembly on several broad-based measures to assist those impacted by the decline in tourist activity, including the Tourism Accommodation Relief Grant; Relief Business Grant; Business Relief Loan; Relief Grant to Tourism Industry Ancillary Services; a four year Soft Loan Facility with a two year moratorium through First Citizens and Republic Bank for micro, small and medium businesses; and, the Liquidity Support Loan Programme for the credit union movement. 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 17

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