THTA's Budget Suggestions

The Tobago Hotel and Tourism Association (THTA) says the budget presentation was prudent and conservative. The group however was surprised by the relatively few stimulus initiatives for Tourism, given Prime Minister Dr. Keith Rowley's recent announcement that Tourism and Agriculture would be at the forefront of the economy's diversification from gas and oil. They are suggesting that: - Tobago be a Duty-Free Zone and be given VAT exemptions for five years. - The $50 million dollars allocated for the Tourism Accommodation Relief Grant to be used beyond the 53 properties, which have received 50% of the grant funds so far. - A tax deduction of $150 percent for putting in additional infrastructure, staff training, purchase of specialized equipment. - The Use of Hotel Tax Revenue for Marketing, instead of paying hotel tax directly into the Consolidated Fund. - The Abolishment of the Land License Order of February 2007, which they say hampers foreign investment.