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Republic of Trinidad and Tobago

Cybersecurity Investment Tax Allowance

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The Cybersecurity Tax Incentive Allowance offered by the Trinidad and Tobago government is on its way. The incentive aims to encourage businesses to invest in cybersecurity measures to protect their digital assets and data.

Key points from iGovTT on this incentive include:

  1. Overview: The Cybersecurity Tax Incentive Allowance is part of the Trinidad and Tobago government’s efforts to enhance the nation’s cybersecurity posture.
  2. Eligibility: Businesses registered under the Companies Act or the Income Tax Act can apply for this incentive. They must demonstrate that they have implemented cybersecurity measures and meet certain criteria.
  3. Incentive Details: The incentive allows eligible businesses to claim a tax deduction of up to 150% of the expenditure incurred for implementing cybersecurity measures. This deduction can be applied against the chargeable profits of the business.
  4. Purpose: The incentive aims to support businesses in safeguarding their digital infrastructure, enhancing cybersecurity resilience, and mitigating cyber threats and attacks.
  5. Application Process: The page provides information on how businesses can apply for the Cybersecurity Tax Incentive Allowance, including the necessary documentation and procedures.

Overall, the Cybersecurity Tax Incentive Allowance is designed to incentivize businesses in Trinidad and Tobago to invest in cybersecurity measures, ultimately contributing to the overall cybersecurity readiness of the nation’s digital ecosystem.

Visit the iGovTT website to get more information on applying for the Cybersecurity Tax Incentive Allowance.

Review the CyberSafeTT article on how to break down your Cyber Security Budget to benefit from this tax allowance.

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