II. Tax Deduction for Sponsorship of Audio, Visual and Video Productions
Under the Corporation Tax Act, companies who sponsor audio, visual or video production for the purposes of local
education or reflecting local culture for use in radio, television or cinematic graphics are eligible for a tax
deduction of 150% of actual expenditure incurred up to a maximum of $12 Million
NOTE: After carrying out the relevant expenditure, companies must submit their Corporation Tax Return by the tax
year ending 30th April of each year.
III. Tax Allowances for Creative Sector Sponsorship
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
Responsible Agency/Contact Person
Inland Revenue Division
Government Campus Plaza, 2-4 Ajax Street, Port of Spain
Mr. Dabie Dookharan, Supervisor Taxpayers Services
Tel: (868) 800-8299 ext. 10436
IV. Exemption from Customs Duty
Enterprises engaged in the film industry are allowed duty free concessions on machinery, equipment and materials
for the production of motion pictures. Terminal equipment or other equipment to be installed or used for a
public telecommunications network, service or radio service are also eligible for import duty concessions based
upon the provisions of the Third Schedule of the Customs Act, Chapter 78:01 (as amended). The service must be
certified by the Telecommunications Authority of Trinidad and Tobago.
V. Remission of VAT and Duty on the temporary importation of film production equipment
Film producers who import film equipment temporarily into Trinidad and Tobago for production purposes are
required to post a Customs Bond which is refunded when the equipment leaves the country.
Provision exists for the remission of Customs Duty under
Section 9(1) of the Customs Act, Chapter 78:01 which states that ‘the President may, upon application by
the importer or exporter remit or refund in whole or in part any Customs Duty whenever he shall deem it
expedient to do so’.
Under Section 44(b) of the Value Added Tax Act 1989, goods that are imported for temporary use shall not be
charged Value Added Tax on entry, except where such goods cannot be reasonably exported within three months or,
that the goods are liable to Customs Duty.
Section 55(2) of the Value Added Tax Act states, inter alia, that Section 124 of the Income Tax Act shall apply
to the administration of this Act and the collection and recovery of any amount payable, as if that amount were
payable under that Act. Section 124 of the Income Tax Act states that the President may remit or refund in whole
or in part the tax payable or paid as the case may be by any person if he is satisfied that it would be just and
equitable to do so.
Therefore, international production companies wishing to Film in Trinidad and Tobago must advise FilmTT of the
full list of equipment being brought into the country. This information is forwarded to the Ministry of Trade
and Industry which is reviewed and sent to the Ministry of Finance. The Ministry of Finance seeks Cabinet
approval to proceed. This approval is then conveyed to Customs and Excise.
VI. Grant Fund Facility for the Creative Industries
The Grant Fund Facility provides financial assistance to develop small and medium-sized enterprises (SMEs) that:
(i) are involved in the production of high value-added products and services that can compete in export markets;
and (ii) foster the economy’s diversification thrust. 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
One of the eight (8) eligible areas for funding under this Grant is Creative Industries. Funding is specifically
available for the acquisition of new machinery, equipment, technology/software for businesses involved in:
The development/sale of intellectual property of a cultural nature such as: film (including animation), fashion,
music, dance, theatre, visual and performing arts, broadcasting, literature and publishing, heritage festivals
For further details and Application Forms visit: https://tradeind.gov.tt/grant-fund-facility/
VII. Research and Development Fund for the Creative Industries
The RDF is a grant fund which provides financial support to, inter alia, the Creative Industries. The
aim of the project is to stimulate and support investment in new and advanced technology and innovation as a
competitiveness enhancement tool for enterprises in this sector.
Eligible companies can access funding in three (3) phases:
Phase 1: Feasibility- 70% of the total cost of the project up to
Phase 2: Product and service development- 50% of the total cost of the project, up to
Phase 3: Product/Service Commercialization- up to $150,000.00
Special Conditions apply.
For more details, visit: https://exportt.co.tt/research-development-facility/