Ministry of Finance : Applying For Tax Clearance Certificate Trinidad & Tobago

Name of the Organization : Ministry of Finance & Economy
Type of Facility : Applying For Tax Clearance Certificate
Country : Trinidad & Tobago

Website : http://finance.gov.tt/services/income-tax/applying-for-tax-clearance-certificate/

Applying For Tax Clearance Certificate

A Tax Clearance Certificate confirms that an individual or business is in compliance with government tax requirements. The certificate is issued by the Inland Revenue Division of the Ministry of Finance.

Related : Ministry of Finance Paying Your Taxes Trinidad & Tobago : www.statusin.org/7666.html

When do I need a Tax Clearance Certificate?:
A Tax Clearance Certificate is required when tendering for government business contracts, and when seeking citizenship, residency, and the extension of work permits.

How do I apply?:
You must complete an Application for Tax Clearance Form and submit it to one of the Inland Revenue Offices listed in the next section. Please follow the link at the end of this section to download an application form.

You must also supply the following documents:
** Your Board of Inland Revenue (BIR) File Number. (All outstanding liabilities with the Board of Inland Revenue must be paid, or arrangements made for subsequent payment, before you can be issued a BIR file number. Please follow the link below for more information on obtaining a BIR File Number).
** One form of ID (Passport, National I.D. card or Drivers Permit).

Application Forms:
Tax Clearance Certificate Application Form
Applying for a Board of Inland Revenue (BIR) File Number and Pay as you Earn (PAYE) Number

How much does it cost?:
The fee for obtaining your Tax Clearance Certificate is TT$100.00. Payment may be made at the IRD Cashiers’ Unit or at one of the offices listed above.

Paying Your Taxes :
Individuals and businesses are required by law to pay various forms of tax. Individuals pay income tax and health surcharge on their income. Businesses must pay VAT, Corporation Tax, Business Levy, Green Fund Levy, and other Miscellaneous Taxes. There are different procedures for paying taxes, depending on whether the payee is an individual or a business.

Procedures for Individuals :
** In order to pay taxes, all individuals, whether they are self-employed or employed by someone else, must have a BIR file number. Please follow the link below to apply for a BIR file number.

** Please note that individuals are no longer legally required to file income tax returns unless they are professionals or self-employed. Your employer will deduct taxes from your salary and pay them to the government on your behalf. However, you can choose to file a return if you are unhappy with the amount of tax that has been deducted from your earnings by your employer.

** If you are self-employed you must file a tax return at the end of the financial year. The filing deadline is set by the Inland Revenue Division, is usually in March or April, and can vary from year to year. You can download an income tax return form and read filing instructions by following the links below.

** Tax Return forms and instructions
** Applying for a Board of Inland Revenue (BIR) File Number and Pay as you Earn (PAYE) Number

How much tax do I pay?
** All taxpayers are entitled to a Personal Allowance of TT$72,000.00 per year. This means that you do not pay income tax on your first TT$72,000.00 of income, so you pay no income tax at all if you earn less than this amount. Follow the link below for tax rates and information on how your taxes are calculated.

** You can reduce the amount of tax they pay by declaring tax-deductible expenses. Please follow the link below for information on reducing your taxes.

What tax assistance is available for individuals?
The Inland Revenue Division of the Ministry of Finance provides the following tax services free of charge :
** Answering queries on tax liabilities.
** Assisting with completion of tax returns.

** Approval of TD1 forms (please follow the link at the end of this section for more information on TD1 approvals).
** Explanation of any tax measure.
** You may contact the following locations for tax assistance between the hours of 8:00 am and 4:00 pm, Monday to Friday, except public holidays:

Where can I find more information?:
For further information, please contact:
Office of the Permanent Secretary
Ministry of Finance
Eric Williams Financial Complex
Independence Square
Port of Spain
Trinidad, West Indies

Tel. (868) 627-9700 Ext 1009
Fax. (868) 627-6108
Opening hours: 8:00 am to 4:00 pm, Monday to Friday, except public holidays.