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Legislation

These pieces of legislation facilitate the development of the Tourism Industry by providing to investors incentives and concessions, and makes provision for other tourism related activities and projects. Act No. 9 of 2000 makes accessible an array of development incentives.

The main provisions of these pieces of legislation are highlighted below along with a list of other pieces of legislation which impact the tourism sector:

Part 1 facilitates access to tax reliefs for tourism projects. These are:
  • A tax exemption not exceeding  seven years in respect of the gains or profits from the approved tourism project;  
  • A tax exemption in respect of the gains or profits derived from the initial sale of a villa or condominium  or the site for a villa or condominium that forms part of an IRD which is an approved tourism project  

Subsection (4) provides further incentives relating to tax exemption periods, stipulating:

In addition to the tax relief mentioned in subsection (3) the following tax benefits may, subject to Part 4, be granted during the period that a tourism project is an approved tourism project:

  • A carry over from a tax exemption period , if any, of any loss arising out o the operation or renting  of an approved tourism project; and  
  • A tax exemption in respect of interest received on an approved loan used for an approved tourism project  

Part 2 defines tourism projects and lays out the prerequisites for benefits to be derived under a tourism project. 
Tourism projects, the incentives for which, will be reserved solely for nationals of Trinidad and Tobago are described as :

  • Accommodation facilities under twenty-one rooms;
  • Transport services;
  • Ground tour operations or destination management companies

In order to qualify for the benefits outlined in Part 2, tourism projects must:

  • Have a minimum capital expenditure  (Further  details are provided  in Schedule 9 of the Act, wherein the limitations for international and local investors, respectively are tabled)
  • Be constructed or undertaken primarily for use in the tourism industry; and
  • Be available on a continuing basis for use in the promotion of Trinidad and Tobago as a tourist destination
     

Part 3 details the Customs and Excise Duty Exemptions that flow from the granting of an interim or additional interim approval for the importation or entry into Trinidad and Tobago of building materials which are not already duty free, and articles of equipment for tourism accommodation.  It is understood that an importation permit will only be granted provided that it shall be used exclusively in connection with the construction and equipment of the project for which the interim approval or the additional interim approval has been granted.

The provisions of Part 4 refer to a new or existing tourism project that has been declared by Order to be an approved tourism project under Part 2 of the Act. Section 35 provides that “where an approved capital expenditure was made in respect of a tourism project or an altered existing project, and a tax exemption period has been granted in respect of that to the owner or operator

This instrument establishes a society, the Zoological Society of Trinidad and Tobago, for the purpose of founding and operating a zoological park for the advancement of zoology and animal physiology to be carried out by trustees and their successors as well as for the raising of funds to meet the costs of operating such a facility. The Society has retained its primary mission which is mirrored in its Vision , “...to oversee the provision and preservation of a representative collection of fauna of Trinidad and Tobago and other animals not indigenous to the twin island state, the introduction of new and curious objects of the animal kingdom; to ensure the efficient operations of a Zoological Park for the recreation and education of its people and for the protection and conservation of the environment and our native fauna.” The Society works in close partnership with other national and international organizations such as the Forestry Division, the Ministry of Foods Production, Land and marine Affairs, Manatee Conservation Trust, Caribbean Animal Welfare Association, International Fund for Animal Welfare, and the San Diego Zoo.

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