Investment Incentives for a Returning National.
The following is a summary of benefits to which a returning national is entitled.
In accordance with Section 45A of the Customs Act (Chap. 78:01) to qualify for any relief of taxes, the person
must satisfy all of the following conditions:
In accordance with Section 45A(1) and (2) of the Customs Act (Chap. 78:01), the Returning National is entitled to
full relief of Customs Duty.
In accordance with Legal Notice No. 75 of 2013 the Returning National is entitled to full relief of Value Added
For the purposes of relief from Motor Vehicle Tax (MVT), the vehicle must be of a class or description as
detailed in Item 1 in Part I Appendix A of the fourth Schedule of the Motor Vehicles and Road Traffic Act,
Chapter 48:50 which is “private motor cars or rental cars, station wagons or estate wagons. In this
regard, the Returning National receives full relief from Motor Vehicle Tax.
Note:The concession granted to a returning national for the importation of a motor vehicle is a
one (1) time facility. If there is a transfer of ownership of the motor vehicle within two (2)
years of the date of importation, the returning national will then immediately pay the customs duty which would
have been payable had the relief not been granted.
There are two categories of household effects:
(a) Items, which are in the use and possession of the passenger for at least one (1) year - No duties and taxes
are payable. Any passenger can benefit from this measure, in accordance with item 6(b) of the Second
(b) Items which are owned by a returning national residing abroad for at least five (5) years. Conditions for
exemption from duties and taxes on household effects for a returning national
are summarized below:
The term ‘household effects’ shall include items as air conditioning units, bedding,
carpets, clocks, crockery, glassware, cutlery, electrical fans, furniture, record players, household electrical
appliances, irons, kitchen and other domestic utensils, lamps, lanterns, household linen, perambulators, pianos,
pictures, sewing machines, silver and plated ware, stoves and electrical cooking and heating apparatus, tape
recorders, lap-top computers and other like articles.
*Motor vehicles, building materials, and foodstuff are excluded.*
Full relief of Customs Duty and VAT is granted to household effects of a Cost, Insurance and Freight (CIF) value not exceed two hundred and fifty thousand dollars ($250,000.00TT). However, where the CIF value exceeds two hundred and fifty thousand dollars ($250,000.00TT), the goods allocated to the excess will attract the respective rates of customs duties and VAT plus ten percent (10%) in Special Tax.
In order to benefit from tax concessions, the Returning National needs to:-
Note: Continuous residence abroad by a returning national shall not be affected by temporary visits to Trinidad and Tobago for periods not exceeding three (3) months in each of the five (5) years immediately prior to his return to Trinidad and Tobago to reside permanently.
A licensed Customs Broker/Clerk will be required to prepare the Customs Entry.After the
Customs official accepts the Customs Entry, Customs Duty, Motor Vehicles Tax, VAT and Special Tax (Household
effects) where it applies will be made payable to the Customs and Excise Division.WARNING:
Heavy penalties are imposed for false declarations.The above generally describes
the tax concessions from which a returning national may benefit, and are provided for general information.
However, discussions in this article must not be substituted for law.