The Green Fund was established by the Finance Act 2000. This Act introduced a 0.1 percent tax – the Green Fund Levy – on the gross sales or receipts of all companies conducting business in Trinidad and Tobago, payable at the end of each quarter. The purpose of the Fund is to enable grants to be made to community groups and organizations engaged in activities to remediate, reforest, and conserve the environment. While the establishment of the Green Fund was not in response to a specific MEA, it serves as a mechanism whereby financing for environmental programmes and projects can be sourced.
The Act provides for the Green Fund to be managed by a Green Fund Agency (GFA) consisting of a Chairman nominated by the Minister with responsibility for the Environment; three members representing the Environmental Management Authority; three members representing Labour, and three members representing the Private Sector. The Board of Inland Revenue is responsible for collecting the levy, and the money is transferred to the GFA within fourteen days of collection.
For more information, contact Mr. Alvin Pascal at alvinpascal@hotmail.com