Page 145 - Caribbean-Central America Profile 2018

TRINIDAD & TOBAGO

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

The criteria for approval include: • Electrical Energy Based Operations The Eco-Industrial Development Company
• A company incorporated or registered in • ICT Operations of Tobago (E-IDCOT) Ltd
Trinidad and Tobago First Floor, Isaac T. McLeod Building
• Potential for job creation • Laboratory and Medical Services Sislyn Thomas-Craig Road
• New investment initiative • Natural Gas Intensive Production Cove Eco-Industrial and Business Park
Canoe Bay Road
• Contributions to the development of • Marine Resources Processing Tobago W.I.
workforce skills • Production of Construction Material Tel: (868) 660-2683
• Access to overseas markets • Professional Services Fax: (868) 631-2683
• Steel Fabrication and Metal Working
Incentives include: TAXES
• Exemptions from customs duty on the The Cove Eco-Industrial and Business Park The Taxation regime in Trinidad & Tobago
importation of goods into the free zone. offers to local, regional and international comprises a variety of taxes including both direct
• Exemption from corporation tax. investors an array of investment incentives and indirect taxes. The regime is constantly
• Exemption from income tax. which include: evolving as evidenced by a number of recent
changes in the law to recognise and address both
• Exemption from business levy. NATIONAL INCENTIVES domestic and international developments.
• Exemption from withholding taxes on • Equity Investment for approved companies
of up to thirty percent (30%) is available for
remittance of profits, dividends and other medium to long term investors. Trinidad & Tobago has ratified double taxation
distributions. agreements with Canada, CARICOM, China,
• Exemption from land and building taxes on • Tax Credit of twenty-five percent (25%) on Denmark, France, Germany, India, Italy,
land, buildings, improvements to buildings, chargeable profits for an approved small Luxembourg, Norway, Sweden, Switzerland,
United Kingdom, United States of America and
plant and machinery in the free zone. company. Venezuela.
• Exemption from Corporation Tax on profits,
Prescribed activities which may be carried on in taxes on dividends and value added taxes on
a free zone include: warehousing and storage, inputs for entities exporting eighty percent FINANCIAL SERVICES
manufacturing, transshipment operations, loading (80%) of their final production. The financial system is well-organised and
and unloading operations, exporting, importing, soundly regulated. The Central Bank of Trinidad
service operations including banking, insurance FISCAL INCENTIVES FOR and Tobago determines monetary policy and
and professional services, packaging and shipping, MANUFACTURING sets discount rates and reserve requirements. It
assembling, processing, refining, purifying and • Tax holidays of up to ten (10) years for the regulates operations of the commercial banks
mixing, merchandising, including international manufacture of products using significant and other financial institutions.
trading on products. local input or goods produced exclusively
for export or capital- intensive businesses The main pieces of legislation governing the
The Trinidad And Tobago Free Zones investing in excess of TT$ 50 million (US$ financial sector in Trinidad and Tobago is the
Company Limited 8.3 Million). Central Bank Act, the Financial Institutions Act,
Financial Institutions (Non-Banking) Act, the
Albion Court, • Exemption from Customs Duties on capital Money Lender’s Act, the Trustee Ordinance, the
#61 Dundonald Street, items (once project approval secured) Co-operative Societies Act, the Securities Act,
Port of Spain, Trinidad • VAT Exemptions on imports of highly the Companies Act and the Venture Capital Act.
Tel: (868) 625-4749 capital intensive industries
Fax: (868) 625-4755 • Income Tax exemption on dividends, other The Central Bank of Trinidad & Tobago
Email: ttfzco@tstt.net.tt than interest of profits and gains derived Eric Williams Plaza,
from manufactured product prior to the tax Independence Square,
The Point Lisas Industrial Port holiday period.
Development Corp. (PLIPDECO) • Import Duty concessions on raw materials, P.O. Box 1250,
Port of Spain, Trinidad
Plipdeco House, machinery and packaging materials. Tel: (868) 625-4835
Orinoco Drive Fax: (868) 627-4696
Point Lisas Industrial Estate FREE TRADE ZONE E-mail: info@central-bank.org.tt
Couva, Trinidad • Applicable if 80% of manufacturing is solely
Tel: (868) 636-2201 for export and or international trading. NATIONAL STOCK EXCHANGE
Fax: (868) 636-4008 • Exemptions from Corporation Tax on Trinidad and Tobago Stock Exchange
profits, taxes on dividends and value added 10 Floor, Nicholas Tower
th
THE ECO-INDUSTRIAL taxes on inputs for entities exporting eighty 63 – 65 Independence Square
DEVELOPMENT COMPANY OF percent (80%) of their final production. Port of Spain, Trinidad
TOBAGO (E-IDCOT) LTD • Exemption from import duties on capital Tel: (868) 627-5107/9
The decision to develop a Business and goods, equipment, raw material and
Industrial Park at the Cove Estate in Tobago associated with manufacturing. Trinidad and Tobago Securities and
was taken as part of a strategy to diversify the • Vat Exemptions on imports of highly capital Exchange Commission
economy of Tobago. The Targeted Activities for intensive industries. 57 – 59 Dundonald Street
the Cove Eco-Industrial and Business Park are: • Container examination costs waived. Port of Spain, Trinidad
Tel: (868) 624 2991
• Agro-processing and Food Industries • Work Permit, Land & Building taxes Fax: (868) 624 2995
• Creative Industries waived. E-mail: ttsec@ttsec.gov.tt

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