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Compendium of Incentives
The current incentive regime is well-developed, comprising of various pieces of legislation such as:
- the Fiscal Incentives Act, Chapter 85:01 (as amended);
- the Customs Act, Chapter 78:01 (as amended);
- the Income Tax (In Aid of Industry) Act, Chapter 85:04 (as amended);
- the Corporation Tax Act, Chapter 75:02 (as amended);
- the Tourism Development Act, 2000 (as amended) and
- the Free Zones Act, 19 of 1988 (as amended).
The wide range of incentives offered under these Acts has played a pivotal role in attracting investments. The vast majority of foreign direct investments however have flowed into the local petrochemical sector. This is not surprising given the natural resource endowment of this country and the fact that the “Trinidad and Tobago model” in the energy sector is a recognized brand in the international investor community.
Nevertheless, the Government recognizes that oil and gas resources are finite. Consequently, it has sought to create an investment climate that attracts higher value investments, especially in both the down-stream energy and the non-energy sectors of the economy.
As one of the frontline Ministries within the Government of Trinidad and Tobago, the Ministry of Trade and Industry (MTI) will undertake several activities geared towards attracting investment into the non-energy sectors. Premier among these is the development of a modern Investment Policy that will in general provide a more investor friendly legislative framework. Additional projects include the promotion of Trinidad and Tobago through a National Branding campaign, the launching of Trade and Investment Missions in select markets and the development of sector-specific investment incentives.
The Compendium of Incentives will complement the Ministry’s broader initiatives by providing a concise and informative overview of the existing incentives available to the non-energy sector making the environment more transparent. The benefits accessible to the manufacturing, agriculture, tourism and entertainment sectors will be explored in detail.
Please click here to view the Compendium of Incentives.
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INVESTMENT DIRECTORATE
MINISTRY OF TRADE AND INDUSTRY
Level 12
Nicholas Tower
63-65 Independence Square
Port of Spain.
Trinidad and Tobago, W.I
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Phone:
1 (868) 623-2931 - 4 |
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Fax:
1 (868) 627-8488 |
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Web Site:
www.tradeind.gov.tt |
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Email:
maharajvid@gov.tt - Videsh Maharaj |
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