Tuesday, May 5, 2015

       
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Investment Incentives

  Our Tourism Industry
The local tourism sector has been experiencing significant growth within recent years and has great potential for promoting economic diversification, creating sustainable jobs and generating foreign exchange. Opportunities are available to potential investors in areas such as tourism accommodation, ancillary tourism facilities and tourism infrastructure.

The recently revised Tourism Development Act also provides attractive tax benefits to owners/operators of approved tourism projects in Trinidad and Tobago.

Specific tourism niches have been identified for development with Trinidad focusing on business and cultural tourism and Tobago on leisure and ecotourism.

  T&T's Business Enivironment Offers


A diverse and open economy with strong infrastructure 

A stable political climate

A reliable and low cost energy supply

An educated and trained labour force

A liberalised financial system

A liberalised trading system

A reliable telecommunication system

Repatriation of funds

Attractive Investment Incentives

Growing Tourism Industry

  Tourism Specific Benefits

The Tourism Development Act (Chapter 87:22) provides for a number of tax benefits for new projects which fall in certain target areas (see Targeted Tourism Projects).

There is a room upgrade program which provides a subsidy/rebate for the maintenance of rooms for hotels with less than 100 rooms.

There is a facility for the waiver of taxes and duties on vehicles for use in the Tourism sector.