Investor Presentaiton

Budget overview (continued) K The annual rental value (ARV) has been defined as the rent a similar property can obtain on the open market. This may be reduced by 10% to arrive at the Annual Taxable Value (ATV). Where the rental value is uncertain the ARV may be determined by using the capital values to the following factors: Vacant Land ☐ ☐ ☐ ☐ Residential: 3.5% of its capital value Commercial: 5% of its capital value Industrial: 5% of its capital value Agricultural Land: 2% of the capital value Plant and Machinery not housed in a building: 3% of its capital value (*) https://stats.oecd.org/Index.aspx?DataSetCode=REVTTO Other Comments: As in previous years, the Minister also highlighted the Government's continued commitment to address the issue of backlog of refunds. It was a welcomed reprieve for many small businesses who received VAT refunds by cash payments up to TT$500,000 per VAT cycle, larger businesses who benefitted from the TT$3bn in issued tradeable Value Added Tax Bonds to access long outstanding and significant refunds and individuals who benefitted from expedited refund payments and it was even better to hear of the Minister's commitment that the Government will continue to utilise the bond route to settle the outstanding refunds owed. 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 22 22

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