Investment Facilitation

As a major financial hub in the region and a preferred location for investment, Trinidad and Tobago offers businesses and financial services institutions a range of competitive advantages.

Apart from being favourably located, the twin island state is also one of the most accessible in the region, with regular and some daily flights to major cities such as New York, Toronto, Houston, Miami, London, and Panama. Flights to key Caribbean countries including Barbados, Jamaica and Guyana are also available on a regular basis, making Piarco International Airport a hub for travel between the Caribbean region and North, Central and South America.

 

Trinidad & Tobago’s Competitive Advantage

  • Nearshore Location and Eastern time zone
  • Regional base for many of the largest international firms
  • Highly educated population with an Adult Literacy Rate of 99%
  • Robust infrastructure: Low energy cost; world-class affordable broadband
  • Low-cost real estate
  • Pro-business environment
  • Great quality of life & stable political environment

 

As the Investment Promotion Agency, the T&T IFC ensures access to customisable incentives including:

  • An 80-seat, rent-free, plug and play incubation facility
  • Support with talent sourcing and upskilling
  • Facilitation of inward missions to Trinidad and Tobago
  • Real estate sourcing assistance

 

The Government of Trinidad and Tobago also provides incentives and allowances including:

  • Research and Development Facility :

“i. for a single company project is TT $500,000;
ii. for a business alliance of two or more companies is TT $1,000,000; and
iii. for patent registration is TT $300,000”

 

  • Co-Financing

Companies can enjoy reimbursement, through exporTT, for a portion of the costs associated  with entry into selected export markets. A company shall receive financial support on pre-  approved investments, purchases, costs or expenses.

 

  • Importation of Goods for temporary use:

The Comptroller may give permission to any person to import any goods without payment  of duty thereon, upon being satisfied that the goods are so imported for temporary use only.  Special conditions are applicable

 

  • Promotional Expense Allowance

Promotional Expenses allowance is equivalent to 150% of the amount actually expendedfor the purpose of creating or promoting the expansion of foreign markets for the export of  certain goods and services. The allowance is given for:

i. Advertising in foreign markets;

ii. providing promotional literature for overseas distribution;

iii. participating in trade fairs and similar promotional activities;

iiv. overseas travel for the purposes of conducting promotional activities;

v. providing free samples and technical information on products;

vi. inviting buyers to Trinidad and Tobago;

the recruitment of specialist sales personnel operating in foreign markets,  for a maximum of two (2) years;

vii. conducting foreign market surveys

 

  • Capital Expense Allowances

Wear and tear allowances must be calculated on the reducing balance basis on actual cost,.  Indexation for inflation is not permitted. Fixed Assets are to be classified into one of four  classes:

Buildings and improvements-10%

Motor vehicles, furniture and fittings, plant and machinery-25%

Heavy equipment, motor lorries, trucks and computer equipment-33.3%

Extra heavy equipment, airplanes-40%

Depreciation charged in the annual financial statements is not deductible for taxation  purposes. It is replaced in the computation of taxable income by initial and annual wear and  tear allowances. The rates of annual wear and tear allowances are set out in the seventh  schedule of the Income Tax Act, Chapter 75:01 (as amended). Broadly, they are intended to  recover the cost over its useful life.