Tax
From The Report: Trinidad & Tobago 2016
View in Online Reader

In conjunction with Aegis Business Solutions, OBG explores Trinidad and Tobago’s taxation system, examining a wide range of areas of special interest to international investors, such as income and corporate tax, petroleum profit tax, withholding tax, value-added tax and Customs tax, among others.

This chapter features a viewpoint from Angela Lee Loy, Chairman, Aegis Business Solutions.

Articles from this Chapter

Overview

Stay on the ball: A guide to the country’s taxation legislation
OBG
plus

Income tax in Trinidad and Tobago is payable for each year of income on all income accruing in or derived from T&T, regardless of whether the individual is resident or not. The year of income is the calendar year and is the basis period for all sources of income except profits from trade, business, profession or vocation, in which case it is the financial year ending in the year of income. The tax is assessed at a flat rate of 25% on an individual’s income. Companies are subject to tax in accordance…

Viewpoint

A new normal: Angela Lee Loy, Chairman, Aegis Business Solutions, on measures to improve tax collection
OBG
plus

Trinidad and Tobago has been severely affected by the drop in oil and gas prices, as well as a decline in production of both commodities. Although the tax incentives provided to energy projects in recent years are expected to bring about significant economic returns in the near future, these have led to minimal taxes collected from oil companies in 2016. Exploration and drilling activities currently benefit from a full accelerated capital expenditure write-off, with more than a 100% write-off for…