• Economy

    OBG provides coverage of the major macro-economic trends within local economies, including GDP growth, government budgeting, public debt, balance of payments, monetary policy and long-term development strategies.
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Tax reform is a critical issue for Trinidad and Tobago, as the island nation struggles with ineffective collection and does not raise enough revenue to cover government expenditure. Statistics compiled by the OECD found that T&T collected tax revenue worth 22.9% of GDP in 2016, an amount in line with the 22.7% average of 25 Latin American...

 

Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...

 

Will 2018 bring an end to the contraction cycle?

 

In a public address delivered in January 2018, Prime Minister Keith Rowley promised a “slow return to growth” for the twin-island nation. An uptick in economic activity would certainly be welcomed by Rowley, who was elected in September 2015 during the middle of a difficult period: Trinidad and Tobago posted negative GDP growth for three out...

 

In what ways have the recent fiscal and tax changes affected the business community?

Progress on fiscal consolidation and a recent rebound in commodity prices have led to a more optimistic medium-term outlook among CEOs in Trinidad and Tobago. In our previous OBG Business Barometer: Trinidad and Tobago CEO Survey, released in late 2017, 57% of C-suite executives had positive expectations for the coming 12 months, which improved to...