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Trinidad and Tobago
Taxes
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Title
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Paying your Taxes
Individuals and businesses are required by law to pay various forms of tax. Payment can be made at the Cashiers' Unit at the addresses below between the hours of 8:00 am and 4:00 pm, Monday to Friday, except public holidays. Employers must pay Income Tax and Health Surcharge Payments deductions (PAYE) by the 15th of the month following the month the deduction was made from employee's earnings.
Tax Evaluation of Non-Residents
Tax Evaluation of Non-Residents. Individuals and companies are required to register with the Inland Revenue Division (IRD) and obtain a Board of Inland Revenue (BIR) file number before taking up employment or starting operations in Trinidad and Tobago. A non-resident is a person who is employed or a company that is operating in T&T for a period of less than 183 days in any year.
Paying Stamp Duty
Stamp Duty is a tax that you must pay when carrying out certain transactions that require legal documents. You must pay Stamp Duty when buying real estate or a home, acquiring shares, seeking a mortgage, or conducting other financial transactions. The amount of stamp duty is usually a percentage of the value of the transaction you are undertaking.
Making Tax Assessment Queries
Making Tax Assessment Queries. Any taxpayer who is in disagreement with their tax assessment has the right to object in writing within fifteen days of receipt of his or her assessment, clearly stating the grounds for objection. If you are dissatisfied with your tax assessment from the Inland Revenue Division, you can lodge an objection with the Inland Revenue Division, requesting that the assessment be revised.
Tax Clearance Certificate
A Tax Clearance Certificate confirms that an individual or business is in compliance with government tax requirements. A Tax Clearance Certificate is required when tendering for government business contracts, and when seeking citizenship, residency, and the extension of work permits. You must complete an Application for Tax Clearance Form (Form P14) and submit it to one of the Inland Revenue Offices listed in the next section.
Reducing Your Income Tax
Reducing Your Income Tax. There are a number of ways you can reduce your personal tax liability. If you are an employee of a business, the Tax Declaration 1 Form (commonly referred to as the TD1 form) is used to calculate the amount of tax that is withheld by your employer.
Paying your Taxes
Individuals and businesses are required by law to pay various forms of tax. Payment can be made at the Cashiers' Unit at the addresses below between the hours of 8:00 am and 4:00 pm, Monday to Friday, except public holidays. Employers must pay Income Tax and Health Surcharge Payments deductions (PAYE) by the 15th of the month following the month the deduction was made from employee's earnings.
Tax Evaluation of Non-Residents
Tax Evaluation of Non-Residents. Individuals and companies are required to register with the Inland Revenue Division (IRD) and obtain a Board of Inland Revenue (BIR) file number before taking up employment or starting operations in Trinidad and Tobago. A non-resident is a person who is employed or a company that is operating in T&T for a period of less than 183 days in any year.
Paying Stamp Duty
Stamp Duty is a tax that you must pay when carrying out certain transactions that require legal documents. You must pay Stamp Duty when buying real estate or a home, acquiring shares, seeking a mortgage, or conducting other financial transactions. The amount of stamp duty is usually a percentage of the value of the transaction you are undertaking.
Making Tax Assessment Queries
Making Tax Assessment Queries. Any taxpayer who is in disagreement with their tax assessment has the right to object in writing within fifteen days of receipt of his or her assessment, clearly stating the grounds for objection. If you are dissatisfied with your tax assessment from the Inland Revenue Division, you can lodge an objection with the Inland Revenue Division, requesting that the assessment be revised.
Tax Clearance Certificate
A Tax Clearance Certificate confirms that an individual or business is in compliance with government tax requirements. A Tax Clearance Certificate is required when tendering for government business contracts, and when seeking citizenship, residency, and the extension of work permits. You must complete an Application for Tax Clearance Form (Form P14) and submit it to one of the Inland Revenue Offices listed in the next section.
Reducing Your Income Tax
Reducing Your Income Tax. There are a number of ways you can reduce your personal tax liability. If you are an employee of a business, the Tax Declaration 1 Form (commonly referred to as the TD1 form) is used to calculate the amount of tax that is withheld by your employer.
Paying your Taxes
Individuals and businesses are required by law to pay various forms of tax. Payment can be made at the Cashiers' Unit at the addresses below between the hours of 8:00 am and 4:00 pm, Monday to Friday, except public holidays. Employers must pay Income Tax and Health Surcharge Payments deductions (PAYE) by the 15th of the month following the month the deduction was made from employee's earnings.
Tax Evaluation of Non-Residents
Tax Evaluation of Non-Residents. Individuals and companies are required to register with the Inland Revenue Division (IRD) and obtain a Board of Inland Revenue (BIR) file number before taking up employment or starting operations in Trinidad and Tobago. A non-resident is a person who is employed or a company that is operating in T&T for a period of less than 183 days in any year.
Paying Stamp Duty
Stamp Duty is a tax that you must pay when carrying out certain transactions that require legal documents. You must pay Stamp Duty when buying real estate or a home, acquiring shares, seeking a mortgage, or conducting other financial transactions. The amount of stamp duty is usually a percentage of the value of the transaction you are undertaking.
Making Tax Assessment Queries
Making Tax Assessment Queries. Any taxpayer who is in disagreement with their tax assessment has the right to object in writing within fifteen days of receipt of his or her assessment, clearly stating the grounds for objection. If you are dissatisfied with your tax assessment from the Inland Revenue Division, you can lodge an objection with the Inland Revenue Division, requesting that the assessment be revised.
Tax Clearance Certificate
A Tax Clearance Certificate confirms that an individual or business is in compliance with government tax requirements. A Tax Clearance Certificate is required when tendering for government business contracts, and when seeking citizenship, residency, and the extension of work permits. You must complete an Application for Tax Clearance Form (Form P14) and submit it to one of the Inland Revenue Offices listed in the next section.
Reducing Your Income Tax
Reducing Your Income Tax. There are a number of ways you can reduce your personal tax liability. If you are an employee of a business, the Tax Declaration 1 Form (commonly referred to as the TD1 form) is used to calculate the amount of tax that is withheld by your employer.
