Regulatory Alerts2017-01-01
Finance Act 2017
The Parliament of Trinidad and Tobago enacted the Finance Act 2017 to amend various fiscal statutes, including significant exemptions from motor vehicle tax, VAT, and import duties for electric, hybrid, and compressed natural gas vehicles. The legislation also introduces new levies, specifically a ten percent lottery winnings tax and a twenty-dollar environmental tyre tax on imported tyres. Additionally, the Act adjusts the corporation tax rate for banking institutions to thirty-five percent and increases the maximum limit for Treasury Bills from two thousand to five thousand.
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