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Old 15-01-2017, 13:35   #1
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Trinidad and Tobago tax implications

Thanks for your attention.

Short of hiring an in-country tax lawyer, how can I determine any personal property or luxury tax implications for putting a sailboat on the "hard" in Trinidad and Tobago?

Regards,

Tim
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Old 16-01-2017, 08:39   #2
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Re: Trinidad and Tobago tax implications

Are youbworried about taxes collected by T and T or other tax authorities?
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Old 16-01-2017, 08:40   #3
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Re: Trinidad and Tobago tax implications

Regarding T and T make sure you file the duty exemption papers...all tha yards know how to do it.
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Old 16-01-2017, 08:54   #4
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Re: Trinidad and Tobago tax implications

Quote:
Originally Posted by svlamorocha View Post
Are youbworried about taxes collected by T and T or other tax authorities?
Not including any US tax responsibilities, I'm interested in understanding how long I can be in storage on T&T before I'll be taxed. Example: if boat is stored more than xx days owner is required to pay xx% tax such as a sales tax or a personal property tax.
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Old 16-01-2017, 09:04   #5
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Re: Trinidad and Tobago tax implications

Quote:
Originally Posted by ntimbuktu View Post
Not including any US tax responsibilities, I'm interested in understanding how long I can be in storage on T&T before I'll be taxed. Example: if boat is stored more than xx days owner is required to pay xx% tax such as a sales tax or a personal property tax.
We hauled out for a hurricane season there. No issues. I think that you can stay there for quite a long time on the hard, but as was suggested before, the yards can help.

If YSATT's still around, they're a good resource too.

TJ
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Old 16-01-2017, 09:10   #6
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Re: Trinidad and Tobago tax implications

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We hauled out for a hurricane season there. No issues. I think that you can stay there for quite a long time on the hard, but as was suggested before, the yards can help.

If YSATT's still around, they're a good resource too.

TJ
Thanks. If I may, what marina did you use?
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Old 16-01-2017, 09:22   #7
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Re: Trinidad and Tobago tax implications

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Thanks. If I may, what marina did you use?
It's been several years, so I'm not your best source.

I hauled out at Peakes. It was ok, not great. I did not trust them to do any work without supervision. I ended up hiring a project manager there, which was an excellent thing to do.

His name was Zac Wadell. No idea if he's still around. He added 10% to the price of everything, but all was done on time and on budget. I added quite a bit of gear there-Watermaker, solar, wind, windlass. I also did awlgrip paint on the hull. That was a mistake. It bubbled and looked like crap by the time I got to Panama.

I did see recently a pretty poor review of Peakes, but I don't know if any of your choices are much better than the other.

Good luck.

TJ
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Old 16-01-2017, 09:30   #8
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Re: Trinidad and Tobago tax implications

Your clear-in papers will tell you how long can the boat stay without involving a marina/yard to "care" for it.
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Old 16-01-2017, 09:30   #9
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Re: Trinidad and Tobago tax implications

That will be months..
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Old 16-01-2017, 09:31   #10
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Re: Trinidad and Tobago tax implications

If you want longer then you can make it as long as you want provided you pay a yard or marina to "care" for the boat.
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Old 17-01-2017, 06:48   #11
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Re: Trinidad and Tobago tax implications

Quote:
Originally Posted by ntimbuktu View Post
Not including any US tax responsibilities, I'm interested in understanding how long I can be in storage on T&T before I'll be taxed. Example: if boat is stored more than xx days owner is required to pay xx% tax such as a sales tax or a personal property tax.
According to Don Stollmeyer, CEO of PowerBoats (www.powerboats.co.tt), Chaguaramas, T&T there are no import duties or taxes payable on yachts stored in T&T. There are a couple of foreign yachts that has been in T&T for over twenty years - no taxes or import duties.
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Old 17-01-2017, 12:59   #12
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Re: Trinidad and Tobago tax implications

To the extent the Power Boats reference was a recommendation, I will second that. I had the opportunity to deal with them several times over the past few months including halls, launches, and storage. Great people.
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Old 17-01-2017, 17:38   #13
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Re: Trinidad and Tobago tax implications

Those would be hauls not halls.
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