Investment Incentives for Sectors such as Financial Services, Software Design and Application/ ICT, Aviation Services, Fish and Fish Processing, Construction.
The Grant Fund Facility, established by the Government of the Republic of Trinidad and Tobago, provides new
opportunities to develop small and medium sized enterprises (SMEs) that:
This facility is administered by ExporTT Limited and assists SMEs in the following eight (8) designated sectors,
with the acquisition of new capital requirements/expenditure:
Through this facility, local business persons can access individual Grants from the fund up to a maximum of
$250,000 per beneﬁciary to ﬁnance 50% of the cost of the acquisition. (The Grant does not cover working capital,
land and building costs, and installation costs).
The Grant Fund Facility is available to:
For more information on this facility and the Application Form, visit: https://tradeind.gov.tt/grant-fund-facility/
The Research and Development Facility provides funding to stimulate and support investment in new and advanced
technology and innovation as a competitiveness enhancement tool for enterprises in the non-energy manufacturing
and services sectors.
It provides funding for the successful marketplace entry of innovative and technology driven business ideas in
Financial, Maritime and Aviation Services, Software Design and Applications, Creative Industries, Fishing and
Fish Processing, Agriculture and Agro-Processing.
Eligible companies can access funding in three (3) phases:
Special Conditions apply.
For more details, visit: https://exportt.co.tt/research-development-facility/
Through ExporTT Limited, companies can be reimbursed up to 50% of the total eligible costs incurred in accessing
new export markets or expanding within existing markets. A company shall receive financial support on
pre-approved investments, purchases, costs or expenses. Co-financing funds export-oriented activities by
domestic non-energy manufacturing and service companies in operation for a minimum of one (1) year. The grant is
based on the size of the company:
For more details and to apply, visit: https://exportt.co.tt/co-financing/
A variety of trade financing options can be accessed through the nation’s export credit agency, EXIMBANK.
Exporters can utilize any of the products, namely pre and post shipment financing, demand loans and export
Trade Financing Options:
The company must be: -
Companies interested in applying should contact the offices of EXIMBANK. A meeting will be arranged, after which
a completed application form and the following supporting documentation should be attached and submitted: -
EXIMBANK would evaluate the submission and a credit application would then be made on behalf of the importer, in
cases that require such.
With respect to corporation tax, there are certain deductions from a company’s chargeable profits that are
allowed under the Corporation Tax Act, Chapter 75:02 (as amended), Income Tax Act, Chapter 75:01 (as amended),
and Income Tax (In Aid of Industry) Act, Chapter 85:04 (as amended). These deductions include allowances for
promotional expenses, wear and tear and capital expenditure.
The Promotional Expenses allowance is equivalent to one hundred and fifty percent (150%) of the amount
actually expended for the purpose of creating or promoting the expansion of foreign (export) markets.
The allowance is given for:
NOTE: When a company receives this deduction under Section 10(b) of the Corporation Tax Act, Chapter
75:02 (as amended), it does not qualify for a similar Promotional Expenses allowance under Section 10(a)
of the Income Tax Act, Chapter 75:01 (as amended).
The Company/Applicant must: -
This deduction does not apply to:
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. Wear and tear
allowances must be calculated on the reducing balance basis on actual cost. Indexation for inflation is
This category includes not only manufacturing machinery and equipment but also such items as
office equipment, furniture, fixtures and fittings, vehicles and ships.
Manufacturing companies, under the Income Tax (In Aid of Industry) Act, Chapter 85:04 (as
amended), are entitled to an initial allowance of 90% of initial costs for machinery and
equipment. All companies are entitled to annual wear and tear allowances on their machinery and
equipment, calculated according to the declining-balance method. In the first year, the initial
and annual allowances are calculated on cost. Thereafter, annual allowances are calculated on
the balance of cost after deducting the allowances previously granted. With effect from January
1, 1995, additions to fixed assets will be pooled in various categories. Tax depreciation rates
(wear-and-tear allowances) have been standardised by the seventh schedule to the Income Tax Act,
Chapter 75:01 (as amended). Fixed assets are to be classified into one of four classes:
With effect from January 1, 1995 newly constructed buildings used for the production of income
(i.e. industrial, commercial and rental properties) will receive a 10% wear and tear allowance
using the declining-balance method. Industrial buildings include factories, warehouses,
and housing for workers as well as other buildings provided for their welfare, such as sport
NOTE: Where a company is entitled to benefit under –
in respect of the building or structure or the capital improvements made to the building or
structure, no wear and tear allowance will be granted.
Expenditure on acquiring patent rights, trademarks, and goodwill must be capitalized. Only
manufacturing companies subject to the provisions of the Income tax (In Aid of Industry) Act,
Chapter 85:04 (as amended), may depreciate such expenditure for tax purposes. Research and
development expenditure is deductible in the year in which it is incurred, although very
substantial expenditures may be written off over a longer period.
If an asset that qualified for tax wear and tear allowances is sold at a price less than its tax
written-down value , a balancing allowance is deductible equal to the deficiency. Conversely, if
disposal proceeds exceed the tax written-down value, the excess (called a balancing charge), up
to the amount of the tax depreciation allowances previously deducted, is taxed as part of the
profit for the year. Where machinery and equipment is replaced, a balancing charge arising on
the sale of the original assets may be deducted from the tax-depreciable cost of the replacement
assets instead of being taxed in the year in which it arises. No balancing charge may be deemed
to arise on the disposal of an industrial building if it has been used for more than 50
In computing the chargeable profits of a company for the purposes of corporation tax, a company shall be
allowed expenses reasonably incurred in the training and retraining of employees of the company up to
150% of such expenditure under Section 10E of the Corporation Tax Act, Chapter 75:02. That is to say, if
a company expends $1,000 in the training or retraining if its employees, it can receive up to $1,500 in
Companies can apply for the aforementioned allowances via the Corporation Tax Return form when filing
their tax returns with the Inland Revenue Division (IRD). This form must be submitted to the IRD
by the 30th April of each year, in respect of income for the preceding year. New Companies are required
to apply for a file number on the prescribed form, obtainable at the Division. This number is to be used
on all correspondence with the Board and must be quoted on remittances.
Sections 10G(1), 10I(1), 10J(1), 10K(1), 10L(1) and 10Q(1) of the Corporation Tax Act provide for tax
allowances relating to the sponsorship of arts and culture, sporting
activities or events, audio, visual or video productions, production companies and the fashion industry
up to TT$12,000,000.
These allowances can be 100% or 150% of the actual expenditure and shall be treated as deductions when
ascertaining the chargeable profits of the company for that year of income.
For more details, including the particular allowances of the various expenditures, refer to the
Corporation Tax Act, Chapter 75:02
Inland Revenue DivisionGovernment Campus Plaza, 2-4 Ajax Street, Port of Spain
Mr. Dabie Dookharan, Supervisor Taxpayers ServicesTel: (868) 800-8299 ext. 10436 Email: