Regulatory Alerts2022-06-22
Finance (No. 2) Act, 2021
The Parliament of Trinidad and Tobago enacted the Finance (No. 2) Act, 2021 to introduce various fiscal measures and regulatory amendments. The legislation provides 42% fee and tax refunds for the 2020 year for gambling, betting, and club gaming, while exempting new and recent used electric vehicles from motor vehicle tax, customs duty, and VAT. It also establishes tax incentives for SME listed companies, research and development, carbon capture, and manufacturing, alongside strict penalties for prohibited investment schemes.
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