Maroc - NEWSDAY.CO.TT - A la Une - Hier 07:44

Imbert: Tax and duty exemptions on sporting equipment

ATHLETES and sporting officials will benefit from the removal of taxes and duties on all sporting equipment, commencing January 1, 2025. This was announced by Minister of Finance Colm Imbert during the September 30 budget presentation at Red House on Abercromby Street in Port of Spain. “Those of us who take part in sporting activities know how expensive sporting gear can be. Accordingly, in keeping with our policy to encourage healthy lifestyles, we shall in 2025 exempt all sporting equipment from taxes and duty with the exception of clothing. This measure will take effect from January 1, 2025 and is expected to cost $20m,” Imbert said. However, he did not give an official figure for sport’s allocation for the new fiscal year. National Association of Athletics Administrations of Trinidad and Tobago (NAAATT) president George Comissiong embraced the tax break on sporting equipment but rued the exclusion of sportswear from the tax exemption. “We welcome the news of the removal of taxes and duties on sporting equipment. However, we would have been happier if sportswear was included in the exemption as that remains a major cost element for all athletes,” Comissiong said. Imbert also confirmed the costs of ongoing renovation at four major sporting facilities in both Trinidad and Tobago at $105m. “To enhance our position as a premier sports tourism destination, we have invested in the modernistion of national sporting facilities; including rehabilitation of the main field at Ato Boldon Stadium (Couva), main field and warm-up track replacement at Hasely Crawford Stadium (Mucurapo), refurbishment of Jean Pierre Complex and remedial work to the Dwight Yorke Stadium (Tobago), at a cost of $105m,” Imbert added. TT play host to the 2025 Carifta Games (April 19-21) and Comissiong believes the track replacement and field upgrade at Hasely Crawford is necessary to welcome over 800 athletes and officials from around the region. He also confirmed that the tracks and fields at the Hasely Crawford and Dwight Yorke facilities – “the only true track and field facilities in the country” – have expired and must be refurbished to acquire recertification from World Athletics. “Certification is granted by World Athletics for tracks and field facilities that meet certain requirements. Certification is granted for a given period, after which the facilities must be re-certified. “Attainment of qualification standards for international competitions must be achieved on certified tracks. It is therefore critical to have at least one certified track in the country if our athletes are to qualify at home for next year's major meets. “Further, as host of the Carifta Games, TT must have a certified track, so the current upgrade will serve a dual purpose,” Comissiong added. Work on the Jean Pierre Complex commenced in September. The estimated time for completion of this project was given as eight months, at a cost of $36m. Imbert said the major overhaul of the facility includes “the refurbishment of all stands, indoor courts, media booths, offices, washrooms and auxiliary buildings, significant upgrades to mechanical, electrical and plumbing infrastructure”. Imbert also credited TT’s co-hosting of the ICC T20 World Cup in June, and the just concluded home leg of the Republic Bank Caribbean Premier League (CPL) in Trinidad, describing both tournaments as “beneficial”. “The event (T20 World Cup) showcased the country’s cricketing prowess and economic potential generating significant revenue through tourism and job creation. This was supported by upgrade works to the Brian Lara Cricket Academy (Tarouba), and on a continuous basis, the academy is being maintained and prepared to host international cricket matches with improved facilities for players and officials. “As host nation (of CPL), the country stands to benefit from increased tourism revenue, job creation and enhanced reputation.” He also added that the National Secondary Schools’ Track and Field Championships serves as a platform for identifying and nurturing young athletics talent and that it has benefitted 600 student-athletes. Under the I Choose Sport programme, Imbert said the Government introduced secondary school students to a world of sport and they continue to engage in participation. The programme has successfully engaged approximately 2000 students across 52 schools to date, Imbert said. The post Imbert: Tax and duty exemptions on sporting equipment appeared first on Trinidad and Tobago Newsday.