Tax holidays for SMEs listed on Stock Exchange to begin on January 1 | Loop Trinidad & Tobago - Loop News Trinidad and Tobago
Major tax benefits for small and medium enterprises (SMEs) that are listed on the Trinidad and Tobago Stock Exchange (TTSE) will come into effect from January 1, 2022.
Finance Minister Colm Imbert announced the incentives during his 2022 national Budget presentation.
SMEs will be granted a full tax holiday for five years following a listing on The TTSE.
They will also receive a 50% tax holiday for the second five years following the listing, and then the standard rate, will apply thereafter.
These exemptions include Corporation Tax, Business Levy and Green Fund Levy.
In commenting on the imminent SME tax holiday, CEO of the TTSE, Eva Mitchell, praised the opportunities this opens up for both the companies covered by the benefits, and the public who are eager for new channels for investment.
She said: “The country continues to operate under the restrictions and sustained economic blows imposed by the COVID-19 pandemic. The SME sector has been hit extremely hard, and these new tax incentives provide welcomed relief. The fact that they are accessible via listing on the Stock Exchange encourages interest and investment for further growth from our stakeholders. The Stock Exchange is a closely regulated environment which supports public confidence and sustained participation.”
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