The Trinidad and Tobago Manufacturers’ Association (TTMA) turned its focus to sustaining growth in the non-energy manufacturing sector following an 11.6% expansion during the first half of 2026, as stakeholders met for the Association’s Post-Budget Discussion on Tuesday.
TTMA President Emil Ramkissoon identified several measures in the national budget that the organisation believes could improve efficiency within the business environment.
“Firstly, mandatory e-filing through the Board of Inland Revenues Gen Tax System, the integrated tax processing system upgrade, and thirdly, stronger tax customs information exchange.”
Additionally, the TTMA welcomed the 25% reduction in excise tax on locally produced and imported alcoholic beverages.
While the Association had hoped for the reinstatement of an export booster initiative under Global TT to provide its members with grants for machinery, Professor Roger Hosein proposed ongoing dialogue between the Government and the Association to identify further solutions, underscoring the need for economic diversification.
“In the economic output realm, and in the foreign exchange realm, clear targets were set. I think by working together and having more common dialogue that the TTMA and the manufacturers could put on the table the obstacles, the things that reduce the probability of their expansion.”
Meanwhile, EY Caribbean Tax Partner Colin Ramsey said the success of the fiscal measures will depend largely on how effectively they are implemented.
“These new measures, whilst they may seem a bit draconian in some respects, one could understand the thought process and the rationale behind it. So once there is due consultation and properly rolled out, I think I don’t think the business community will necessarily, you know, object to all of the measures, but it needs to be properly implemented and dealt with across the board.”