Tax
From The Report: Trinidad & Tobago 2017
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This chapter explores aspects of 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 contains a viewpoint from Angela Lee Loy, Chairman, Aegis Business Solutions.

Articles from this Chapter

Overview

Letter of the law: Comprehensive review of the tax framework
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For many years, Trinidad and Tobago has maintained a flat tax rate of 25%. This has since changed following the 2016/17 National Budget, which was introduced in September 2016. Effective January 1, 2017, individuals and companies whose chargeable income is in excess of TT$1m ($149,000) will be charged at a tiered rate. The progressive tax system allows the first TT$1m ($149,000) to be taxed at 25% and any amount thereafter to be taxed at a rate of 30%. Income Tax Income tax in T&T is…

Viewpoint

Hold tight: Angela Lee Loy, Chairman, Aegis Business Solutions, on adjustments to the tax regime
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Facing twin challenges of low energy prices and a sluggish global economy, Trinidad and Tobago finds itself in a perfect storm. To illustrate the extent of this challenge, revenue from petroleum fell from TT$19.3bn ($2.9bn) in 2014 to TT$1.7bn ($254m) in 2016, resulting in a huge hit to government coffers. While these circumstances are trying, they have highlighted the need to strengthen the taxation regime and adjust fiscal policy. Consequently, the government has been looking at ways to…