Both tax and non-tax incentives may be negotiated. The treaty is expected to come into force in early 1997 at the latest. The repatriation of capital, dividends, interest, and other distributions and gains on investment may be freely transacted. Some government entities request prequalification applications from firms, then notify prequalified companies in a selective tender invitation. Customs operations are being restructured and streamlined with the help of U.S. government advisors.
Customs clearance can be time consuming because of bureaucratic delays.
The government does not directly subsidize exports. The state-run Trinidad and Tobago Export Credit Insurance Company insures up to 85 percent of export financing at competitive rates. Free zone manufacturers are exempt from customs duties on capital goods, spare parts and raw materials, and all corporate taxes on profits from manufacturing and international sales. Protection of U.S. Intellectual Property Trinidad and Tobago signed an Intellectual Property Rights Agreement with the United States in 1994 which, along with Trinidad's commitments under the WTO TRIPs agreement, necessitated revisions of most IPR legislation. While the government's awareness of the need for IPR protection has improved, enforcement of existing regulations remains lax.