Two weeks after Trinidad and Tobago’s Ministry of Health said it was laying the groundwork for a new approach to tobacco control, its Finance Minister, Davendranath Tancoo, announced the doubling of customs duties on alcohol and tobacco products, measures expected to account for 80% of next year’s projected revenue growth. Combined with additional customs fees, high-end electric vehicle taxes, and a new 5% import tax on single-use plastics, the island nation is expecting to generate an additional $1 billion in annual revenue.
Effective immediately, cigarette duties were raised from $5.26 to $10.52 per pack of 20, while alcohol went from $79.25 to $158.50 against percent of alcohol content, and beer from $5.14 to $10.28 by gravity. Beginning January 1, the customs declaration fee will double to $80, and the container processing fee doubles to $1,050, while EVs valued over $400,000 will face a 10% duty, 12.5% VAT, and a tiered motor vehicle tax.