Tourism Development Act presented to Tourism Stakeholders in Tobago

On Wednesday, December 13, 2006, the Tourism Development Company (of Trinidad and Tobago) Limited hosted a workshop, in conjunction with the Tobago House of Assembly (THA) at Mt Irvine Bay Hotel, with a focus on the Tourism Development Act 2000. The workshop placed special emphasis on highlighting the incentives available under the Act as well as ways in which potential and existing investors could access those incentives. These incentives included:

• Tax exemptions
• A carry-over from a tax exemption period of any losses arising out of the operation or renting of an approved tourism project.
• The importation of vehicles for use in the tourism industry at the reduced rate of duty of 10% and exemption from motor vehicle tax.
• Total exemption from customs duty on imported building materials and articles of tourism equipment, or if purchased in Trinidad and Tobago, a drawback of customs duties or excise duties, on items not being locally manufactured