Incentives for your Tourism Business
The TTBDL has a key role to play in advancing the development of the tourism sector in alignment with some of the key principles outlined in the NTP framework given its mandate.
For instance, TTBDL loan guarantee programme ensures the sustainability development and economic and social prosperity of tourism operators by providing financial services to ensure the continuation of the sector through job creation, income generation, and personal and community growth.
Also, TTBDL actively engages key stakeholders across the tourism sector thus playing a key role identifying challenges and issues which will facilitate the future development of the sector.
Incentives Specific to
The Ministry of Tourism, Culture and the Arts 3 Sponsorship
Sponsorship applications cater to the following:
- Festivals and events which showcase destination Trinidad and Tobago, our local culture, cuisine, craft sport and entertainment.
- Journalistic and marketing endeavours that promote destination Trinidad and Tobago such as Press Trips and Familiarisation Tours;
- Cultural, Tourism and Business Trade Shows. Notwithstanding the areas outlined in the three categories above, consideration will be given to projects/events that seek to develop culture, arts and tourism.
- Sponsorship engagements require applicants to propose the terms of engagements and sponsorship packages.
- Festivals and events which showcase destination Trinidad and Tobago, our local culture, cuisine, craft sport and entertainment.
- Journalistic and marketing endeavours that promote destination Trinidad and Tobago such as Press Trips and Familiarisation Tours;
- Cultural, Tourism and Business Trade Shows. Notwithstanding the areas outlined in the three categories above, consideration will be given to projects/events that seek to develop culture, arts and tourism.
- Sponsorship engagements require applicants to propose the terms of engagements and sponsorship packages.
Tax Benefits under TDA
The Tourism Development Act, Chapter 87:22 (TDA) was introduced to support the
development of tourism in Trinidad and Tobago.
The Act provides for Tourism Development Incentives to be granted to owners/operators of various types of tourism projects, once these projects have the potential to contribute substantially to the development, growth and expansion of the industry.
The Act provides for Tourism Development Incentives to be granted to owners/operators of various types of tourism projects, once these projects have the potential to contribute substantially to the development, growth and expansion of the industry.
Tourism Accommodation Upgrade Project (TAUP)
The Tourism Accommodation Upgrade Project (TAUP) is an incentive in the form of a partial
reimbursement of the cost of upgrade works undertaken to eligible tourist accommodation.
The aim is to achieve a first-class level to meet and/or exceed the Trinidad and Tobago Standard Requirements for Tourist Accommodation.
The aim is to achieve a first-class level to meet and/or exceed the Trinidad and Tobago Standard Requirements for Tourist Accommodation.
ExporTT Co-Financing for the Tourism Sector 4
Companies can be reimbursed up to 50% of the total eligible costs incurred in accessing new
export markets or expanding within existing markets.
A company shall receive financial support on pre-approved investments, purchases, costs or expenses. Co-financing is only available for export-oriented products and services. The grant is based on the size of the company:
- Small Companies- Generating less than or equal to TT$8 million in annual turnover 50% to a limit of $60,000.00. Funded portion will be paid directly to suppliers for small companies only.
- Medium Companies- Generating between TT$8 million andTT$15 million in annual turnover 50% to a limit of $55,000. Reimbursable.
- Large Companies- Generating over TT$15 million in annual turnover 50% to a limit of $50,000. Reimbursable.
A company shall receive financial support on pre-approved investments, purchases, costs or expenses. Co-financing is only available for export-oriented products and services. The grant is based on the size of the company:
- Small Companies- Generating less than or equal to TT$8 million in annual turnover 50% to a limit of $60,000.00. Funded portion will be paid directly to suppliers for small companies only.
- Medium Companies- Generating between TT$8 million andTT$15 million in annual turnover 50% to a limit of $55,000. Reimbursable.
- Large Companies- Generating over TT$15 million in annual turnover 50% to a limit of $50,000. Reimbursable.
Customs and Excise Duty Exemptions
Where a person has been granted interim approval or additional interim approval for a
tourism project, the Minister of Tourism may, upon application, grant that person a permit:
- For the importation of materials into Trinidad and Tobago free of customs duty;
- For a drawback of customs duties or excise duties, of such building materials which are not already duty free and of such articles of tourism equipment;
- To import vehicles with the payment of customs duty at a reduced rate of 10%.
- For the importation of materials into Trinidad and Tobago free of customs duty;
- For a drawback of customs duties or excise duties, of such building materials which are not already duty free and of such articles of tourism equipment;
- To import vehicles with the payment of customs duty at a reduced rate of 10%.
Tourism Incentives Offered by the Tobago Tourism Agency Limited
PHASE 2 Tourism Accommodation Relief Grant 2021 Criteria and Guidelines
Tourism Incentives Offered by the Tobago Tourism Agency Limited PHASE 2 Tourism Accommodation Relief Grant 2021 Criteria and Guidelines 5
Purpose:
- The purpose of this grant is to provide financial support to owners/operators as an immediate intervention aimed at assisting accommodation properties with reopening and recovering from the Coronavirus pandemic.
- Duration:
This grant will be available for a period of 6 months, with the option to extend if needed. Stakeholders: Owners/operators of different types of tourism accommodation facilities including bed and breakfasts, self-catering facilities, apartments, villas, guesthouses and hotels may apply to access this grant.
- The Grant:
The grant ranges from a max of $50,000 to $300,000 and will be determined based on the size of the property.
- The purpose of this grant is to provide financial support to owners/operators as an immediate intervention aimed at assisting accommodation properties with reopening and recovering from the Coronavirus pandemic.
- Duration:
This grant will be available for a period of 6 months, with the option to extend if needed. Stakeholders: Owners/operators of different types of tourism accommodation facilities including bed and breakfasts, self-catering facilities, apartments, villas, guesthouses and hotels may apply to access this grant.
- The Grant:
The grant ranges from a max of $50,000 to $300,000 and will be determined based on the size of the property.
Trinidad and Tobago Tourism Industry Certification (TTTIC) 6
It is a national certification programme designed to assess whether TOs meet national
tourism quality standards.
The TTTIC programme is intended to improve and standardize the quality of the country’s tourism products. It provides a level of assurance that certified Tourism Operators have achieved minimum acceptable levels of service in their operations.
The TTTIC programme is jointly executed by the Trinidad and Tobago Bureau of Standards (TTBS) and the TAs in Trinidad and Tobago
The TTTIC programme is intended to improve and standardize the quality of the country’s tourism products. It provides a level of assurance that certified Tourism Operators have achieved minimum acceptable levels of service in their operations.
The TTTIC programme is jointly executed by the Trinidad and Tobago Bureau of Standards (TTBS) and the TAs in Trinidad and Tobago
Green Key
Programme
The Green Key award is a leading standard of excellence in the field of environmental
responsibility and sustainable operation within the tourism industry. Green Key respects the
need to have a healthy and profitable business with environmental/sustainability
performance and awareness raising integrated in the work of the establishments at a
reasonable effort without significantly compromising quality and guest experience.
Green T&T is the National Coordinator for Green Key in Trinidad and Tobago. We work with accommodation facilities, restaurants and attractions to achieve the international Green Key certification. The Green Key programme is managed by the Foundation for Environmental Education, a non-governmental, non-profit organization promoting sustainable development through environmental education.
Green T&T is the National Coordinator for Green Key in Trinidad and Tobago. We work with accommodation facilities, restaurants and attractions to achieve the international Green Key certification. The Green Key programme is managed by the Foundation for Environmental Education, a non-governmental, non-profit organization promoting sustainable development through environmental education.
Blue Flag
Trinidad and Tobago
Blue Flag is an internationally recognized award given to beaches, marinas and sustainable
boat tour operators (SBTO) that meet strict criteria covering environmental education,
water quality, environmental management, and safety and services.
Green T&T is the National Coordinator for Blue Flag in Trinidad and Tobago. We work with beach and marina managers, boat operators and their partners, and community stakeholders to achieve international Blue Flag certification.
The Blue Flag International programme is managed by the Foundation for Environmental Education, a non- governmental, non-profit organization promoting sustainable development through environmental education.
Green T&T is the National Coordinator for Blue Flag in Trinidad and Tobago. We work with beach and marina managers, boat operators and their partners, and community stakeholders to achieve international Blue Flag certification.
The Blue Flag International programme is managed by the Foundation for Environmental Education, a non- governmental, non-profit organization promoting sustainable development through environmental education.