TRINIDAD AND TOBAGO: Support measures in response to COVID-19
Find below some measures available in Trinidad and Tobago to support people and companies during the COVID-19 pandemic:
- Financial and Economic Support Measures to be Put in Place in Response to COVID-19 Pandemic
- For small business with credit card limits of $25,000 and less, the Government has asked banks to reduce the interest rate to 10%. Banks have also been asked to consider increasing credit card limits to allow customers to use their cards to access cash.
- A facility will be created to allow hoteliers (primarily in Tobago, but also in Trinidad) to upgrade their premises during this period, which will create employment and ready them to receive occupants when this period ends.
- See more here.
- Additional Support Measures to Alleviate the Effects of the COVID-19 Pandemic
- The Government will pay individuals owed income tax refunds of $20,000 or less and businesses owed up to $25,000 in VAT refunds next week. The Government will begin paying VAT bonds next month.
- The Government will provide $100 million to the Credit Union movement to allow them to provide loans to their members at favorable interest rates with a long repayment period beginning after the situation normalizes.
- See more here.
- COVID-19 Social Assistance Guidelines and Applications For Employers/Employees and Self-Employed Individuals
- SALARY RELIEF GRANT It’s available to workers who have lost their jobs or salary as a result of Covid-19. Starting with persons in the NIS system before moving to other workers.
THIS CONTENT WAS ORIGINALLY PUBLISHED BY THE MINISTRY OF FINANCE OF THE REPUBLIC OF TRINIDAD AND TOBAGO.