(l-r) Mr. Daniel Duncan, President (Ag.) of e TecK receives e TecK’s operator’s license from Stephen De Gannes, CEO of the SEZ Authority
Evolving TecKnologies and Enterprise Development Company Ltd (e TecK) has been granted an Operator License for the Phoenix Park Industrial Estate, designating it as a Special Economic Zone.
As outlined in the SEZ Act of 2022, the regime provides a robust framework for economic investment and diversification. It aims to increase exports, attract both domestic and foreign investment, create new jobs, and encourage greater private sector involvement in our economy.
e TecK is immensely proud to be the first entity granted an Operator License for an Industrial Park by the Special Economic Zones Authority. Under the Act, industrial parks are purpose-built estates designed to leverage investments in manufacturing, logistics, and distribution industries.
As an Operator, e TecK will enjoy several key benefits:
- Exemption from property tax obligations for the estate,
- Exemption from import duties on approved capital goods, spare parts, raw materials, and building materials,
- And stamp duty exemptions on transactions related to land acquisition for zone development.
To access the benefits of the SEZ Act, tenants must apply for a Special Economic Zones Enterprise License under Section 49 of the Act. Once approved, our tenants will enjoy a host of advantages, including:
- Reduced Corporation Tax,
- Reinvestment relief, enhanced relief, and research and development allowances in accordance with the income tax act,
- VAT allowances, with zero-rated goods and services supplied within the Zone,
- Exemptions from customs duties on approved goods, and
- Exemption from property tax obli,gations.
At e TecK, we are committed to fostering innovation and creating opportunities for growth. With the Phoenix Park Industrial Estate as a Special Economic Zone, we’re opening the door to a brighter, more prosperous future for Trinidad and Tobago.
