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This article also features in The Report: Trinidad & Tobago 2020. Read more about this report and view purchase options in our online store.
In conjunction with PwC, this chapter explores the taxation system and Trinidad & Tobago’s efforts to build an investor-friendly environment. It also contains a viewpoint from Brian Hackett, Territory Senior Partner, PwC Trinidad and Tobago.
Trinidad and Tobago has traditionally generated the majority of its revenue from its once-buoyant oil and gas sector. However, despite recent growth in the manufacturing and non-energy sector, the sharp decline in energy revenue has seen the government struggle with fiscal measures to keep the economy afloat. For example, despite amendments to the Property Tax Act, the mechanisms are still not in place to accurately assess and collect property taxes. Amid calls from the private sector for…
Viewpoint:Brian Hackett Traditionally, T&T has generated the majority of its revenue from its once buoyant oil sector, and more recently, from natural gas. Despite recent growth in the manufacturing and non-energy sector, as well as the current administration’s attempt to curtail spending, the decline in revenue from oil and gas streams has seen successive administrations struggle to effectively implement fiscal measures to keep the economy afloat. For example, despite amendments to…
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