Derecho del Turismo en las Américas

The Legal Framework for Tourism Institutional Organisation and Other Matters Concerning Tourism in Trinidad & Tobago Robin Montano 1 Tourism in Trinidad & Tobago is governed by the Tourism Development Act Chapter 87:22 of the laws of Trinidad & Tobago. Basically, this Act provides certain development incentives for any person, firm or corporation that wishes to engage in tourism. The incentives really come in the form of tax benefits which the Minister of Tourism may give to an operator or owner of an approved tourism project. The incentives can be any or all of the following: – tax exemptions on all gains or profits for seven years; – tax exemptions in respect of all gains or profits resulting from the initial sale of a villa or condominium or the site for a villa or condominium that forms part of an integrated resort development (IRD), which is an approved tourism project; – carry‑overs from a tax exemption period, if any loss arising out of the operation or the renting of an approved tourism project; – tax exemptions in respect of interest received on an approved loan used for an approved tourism project; or – the granting of a licence to import vehicles required for the tourism project and to pay a significantly reduced rate (ten per cent) of Customs Duty on same. Any tourism project seeking to access benefits must be registered with the Tourism Development Corporation for all projects in Trinidad and with the Tobago House of Assembly for all projects in Tobago. There is a requirement under the Act for minimum capital investment for all projects, the size of which 1 Bisshop,s College School.