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Production Incentives

The Government of the Republic of Trinidad and Tobago (GORTT) has implemented a Production Expenditure Rebate Program in its drive to encourage both local and international filmmakers to use the resources of Trinidad and Tobago for film production. Through this production rebate the Government expects to encourage foreign direct investment into the Creative sectors with specific focus on the Film Industry. Foreign production companies are encouraged, permitted and welcomed to enter into co-production agreements with Trinbagonian companies.

The Production Expenditure Rebate Program currently provides cash rebates starting from 12.5% up to 35% for on-location qualifying production expenditure and 55% for qualifying local labor spend in Trinidad and Tobago.

Rebate Applications are evaluated with special reference to:

• The total estimated expenditure in Trinidad and Tobago.

• The level of employment of Trinidad and Tobago crew.

• A script that does not portray Trinidad and Tobago in a negative light.

Key benefits include:

• 150% Tax Deduction for sponsorship of creative works

• 55% rebate on local production expenditure for film industry.

• Access to over 150 trained and experienced animators

• A talented pool of creative professionals in film, fashion, music, carnival arts and multi-media.

• Increased market access for creative industries through the Economic Partnership Agreement.

• The Revolving Investment Arrangement program provides financial assistance of up to 70% of any project for entertainment practitioners with major projects related to the entertainment industry.

International Crews

Three tiers of rebates for International Crews are available as follows:

http://galtalliancefilms.com/images/US%20Rebate.jpg

The maximum rebate payable is US $1,500,000 (subject to exchange rate fluctuations)

Local Crews Rebates are available to Local Crews as follows:

http://galtalliancefilms.com/images/TT%20Rebate.jpg

The maximum rebate payable is TT $9,600,000

150% Tax Deduction for Sponsorship of Film

GORTT has implemented a tax incentive for sponsorship of film and television products, whereby companies can receive a 150% tax deduction for such expenditure up to a maximum of TT$1 million. It was agreed that this deduction would be available to any company that incurs expenditure on sponsorship of audio, visual or video productions for the purposes of local education, local entertainment or reflecting local culture for radio or television.

Customs Duty and Value Added Tax (VAT) Exemption

GORTT has agreed to the exemption from the payment of VAT and customs duty for equipment belonging to foreign crews provided that such equipment is re-exported on completion of the film production. This incentive has been expanded, thereby removing VAT and customs duties on blank DVDs, blank video tapes and raw film stock used by certified production companies, as well as, on recorded DVDs with material that has been produced and mastered in Trinidad and Tobago by nationals and permanent residents.