Investor Presentaiton
Source: Ministry of Finance
Incentive
MANUFACTURING INCENTIVES
Description
Fiscal Incentives
(i)
Import Duty
Concessions
Approved Small
Company Status
Free Trade Zones
Allowances to the
manufacturing
sector
Tax exemptions for
the Housing Sector
Customs duties on the construction of an approved project;
(ii) Value Added Tax; and
N
National Energy
CORPORATION OF TRINIDAD AND TOBAGO
(iii) Income tax on dividends or other distribution, other than interest, out of profits or
gains derived from the manufacture of the approved product during the tax holiday
period.
Exemptions from Customs Duties on raw materials, machinery and equipment and in some
cases packaging material based upon the provisions of the Third Schedule of the Customs
Act, Chapter 78:01 (as amended).
Approved Small Company Status is a designation granted to a Limited Liability Company,
allowing it to derive a tax relief for a period of five (5) years.
Free Zone activities that qualify for approval include manufacturing for export, international
trading in products, services for export and development and management of free zones.
Sales into the customs territory are treated as extra regional imports.
Where a person carrying on a trade incurs capital expenditure on the provision of machinery
or plant for the purposes of that trade, there shall be made to him, for the year of
assessment in the basis period for which the expenditure is incurred, an allowance (in this
Part referred to as "an initial allowance") equal to 90% of the expenditure incurred in the
provision of machinery and plant for the purposes of that trade.
There shall be exempt from income tax until the year ending 31st December 2018, the
gains or profits derived from the initial sale of a residential house site, being part of a
land development project, provided the owner of the land produces a certificate from the
Minister with responsibility for housing in support of the claim for exemption
Act
Fiscal Incentives
Act, Chapter 85:01
Third Schedule of
the Customs Act,
Chapter 78:01
Corporation Tax
Act, Chapter 75:02
Free Zones Act,
Chapter 81:07
Chap. 85:04
Income Tax (In Aid
of Industry) Act
Section 45C (1) of
the Income Tax
Act, Chapter 75:01
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