Paying Your Taxes Trinidad & Tobago : Ministry of Finance

Name of the Organization : Ministry of Finance & Economy
Type of Facility : Paying Your Taxes
Country : Trinidad & Tobago

Website : http://finance.gov.tt/services/income-tax/paying-your-taxes/

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.

Related : Ministry of Economy Registering For VAT Trinidad & Tobago : www.statusin.org/7661.html

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$60,000.00 per year. This means that you do not pay income tax on your first TT$60,000.00 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.

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

Taxpayer Services Section:
Victoria Courts
Queen Street
Port of Spain
Trinidad

Tel. (868) 623-2981/7106 ext. 201 and 204

Taxpayer Relations Section:
Inland Revenue Division
Trinidad House
St. Vincent Street
Port of Spain
Trinidad

Tel. (868) 623-2981/7106 ext. 321, 323-6

South Regional Office:
Inland Revenue Division
52 Cipero Street
San Fernando
Trinidad

Tel. (868) 657-6057/5775

Tobago Regional Office:
Inland Revenue Division
Sangster’s Hill
Scarborough
Tobago

Tel. (868) 639-2410/2538

You may also obtain tax assistance by visiting the Arima or Couva District Revenue Office on the first Wednesday of every month, or the Point Fortin District Revenue Office on the third Wednesday of every month between the hours of 8:00 am and 12 noon.

During the months of April and October (tax filing periods) Technical Officers are stationed at District Revenue Offices on specified days, published in the daily newspapers, to assist taxpayers in completing Tax Returns.