AGP Executive Report
Last update: 3 hours agoBudget 2027: Trinidad and Tobago’s $63.368 billion budget targets a $3.639 billion deficit, down from $7 billion in fiscal 2026. New revenue measures include VAT on foreign digital services from March 2027 and a surcharge on residential electricity use above 3,000 kWh per billing period. Business Climate: Chambers welcomed parts of the package but said results will depend on delivery, citing persistent foreign-exchange shortages, rising costs and administrative delays. EY and PwC also warn that rules for taxing foreign digital services remain unclear, including which services are covered and how VAT will be collected. Tobago Funding: The island’s total allocation is $3.473 billion, below the THA’s $4.12 billion request. Energy Projects: EnerMech won a Subsea7 contract to provide pre-commissioning services for the Ginger offshore development, using local staff and equipment. Regional Trade: The CARICOM Payment and Settlement System has entered a pilot across 11 jurisdictions, aiming to make cross-border payments in local currencies and reduce conversion costs.
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