MEDIA RELEASE
13/10/2025

The American Chamber of Commerce of Trinidad and Tobago (AMCHAM T&T) acknowledges the presentation of the 2026 National Budget by the Honourable Minister of Finance, Davendranath Tancoo, under the theme “T&T First: Building Economic Fairness Through Accountable Fiscal Policies.”

This year’s budget measures are aimed at rebuilding confidence, stimulating investment, and supporting economic growth. AMCHAM T&T notes the Government’s stated focus on fairness, discipline, and delivery—principles that, if effectively implemented, can help restore trust in public institutions and advance national development and, ultimately, will boost confidence.

We particularly note the Government’s commitment to strengthening the Customs and Excise Division, including the adoption of AMCHAM T&T’s proposal to increase staffing levels and integrate advanced technologies such as the upgraded ASYCUDA system. These measures, alongside risk-based auditing, improved digital payments, and standardized procedures, are expected to enhance efficiency, reduce clearance times, and improve the ease of doing business. To ensure lasting impact, it will be important that these efforts are supported by consistent inter-agency coordination and predictable turnaround times across the regulatory landscape. We repeat our call that these changes should be underpinned by the establishment of an Internal Affairs & Professional Standards Bureau within the Customs & Excise Division so that the few bad actors can be weeded out.

On the proposed review of the Value Added Tax (VAT) system and exploration of a simpler Sales Tax model, AMCHAM T&T welcomes potential alternatives to what appears to be a broken VAT system, which has negatively affected many businesses’ cash flows. We urge the government to address outstanding liabilities to business whilst it considers a potential new system.

AMCHAM T&T welcomes the continued drive toward digitalization, including the introduction of electronic payments across Customs and public agencies and the establishment of a National Digital Electronic Payment System. These initiatives align closely with AMCHAM T&T’s ongoing advocacy for a fully digital public service. The long-term success of this transformation will depend on ensuring system interoperability, strengthening cybersecurity, building institutional capacity to sustain digital progress, culture change, and upskilling of the human resource.

AMCHAM T&T appreciates the Government’s coordinated focus on enhancing human capital development. The emphasis on improving job quality within the social sector, coupled with initiatives to strengthen teaching capacity to enhance the teaching-learning process through the introduction of technology-driven methods and the expansion of technical programs in tertiary education, are all promising steps forward. We are optimistic that these measures will enable individuals in need of employment support to advance socioeconomically, thereby contributing to the country’s continued transition towards a knowledge-based economy. Furthermore, we welcome the conclusion of outstanding wage negotiations and initiatives aimed at providing greater job security, recognizing that linking employment more directly to defined outcomes and productivity will foster a more sustainable and motivated workforce.

AMCHAM T&T recognizes the focus on institutional strengthening, customs reform, and digital transformation as positive steps toward improving national competitiveness and attracting investment. AMCHAM T&T emphasizes that the success of these measures will depend on transparent execution, well-defined milestones, and consistent engagement between the public and private sectors. We appreciate the need to implement the recommendations of the last actuarial review. 

With increasing direct and indirect taxes, for which we understand the need for short-term, the commitments to improve the ease of doing business must be realized.

AMCHAM T&T remains committed to working with the Government of Trinidad and Tobago and other stakeholders to advance shared goals of economic diversification, sustainable growth, and inclusive prosperity.



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For further questions or comments please contact: 
Nirad Tewarie, CEO AMCHAM T&T at niradtewarie@amchamtt.com.