Tt Tax Overview

---
name: tt-tax-overview
description: "Source-cited draft: tax overview for Trinidad and Tobago (tax year 2025) — rates, thresholds and rules with primary-source citations. Unverified; pending local-accountant review."
license: "AGPL-3.0-or-later (code) / OpenAccountants Guide License v1.0 (content)"
metadata:
  source: openaccountants
  openaccountants_url: "https://www.openaccountants.com/skills/tt-tax-overview"
  jurisdiction: "TT"
  tax_year: "2025"
  last_updated: "2026-07-13"
---

# Trinidad and Tobago Tax Overview

## Trinidad and Tobago tax system at a glance

- **Tax year (year of income)** — Calendar year, 1 January to 31 December  _(Income Tax Act (Chap. 75:01) — https://taxsummaries.pwc.com/trinidad-and-tobago/individual/tax-administration)_
- **Currency** — Trinidad and Tobago dollar (TTD / TT$)  _(Central Bank of Trinidad and Tobago)_
- **Tax authority** — Inland Revenue Division (IRD), Ministry of Finance  _(Inland Revenue Division — https://www.ird.gov.tt/)_
- **Individual residence basis** — Residents are taxed on worldwide income; non-residents are taxed only on Trinidad and Tobago-source income  _(Income Tax Act (Chap. 75:01) — https://taxsummaries.pwc.com/trinidad-and-tobago/individual/taxes-on-personal-income)_
- **Corporate residence basis** — Resident companies are taxed on worldwide income; non-resident companies are taxed only on income accruing in or derived from Trinidad and Tobago  _(Corporation Tax Act (Chap. 75:02) — https://taxsummaries.pwc.com/trinidad-and-tobago/corporate/taxes-on-corporate-income)_
- **Headline personal income tax rates** — 25% on chargeable income up to TTD 1,000,000; 30% on the excess percent  _(Income Tax Act (Chap. 75:01) — https://taxsummaries.pwc.com/trinidad-and-tobago/individual/taxes-on-personal-income)_
- **Headline corporation tax rate** — 30% standard rate (higher rates for banks, petrochemical and petroleum companies) percent  _(Corporation Tax Act (Chap. 75:02) — https://taxsummaries.pwc.com/trinidad-and-tobago/corporate/taxes-on-corporate-income)_
- **Value Added Tax** — Yes — VAT applies at a standard rate of 12.5% percent  _(Value Added Tax Act (Chap. 75:06) — https://www.ird.gov.tt/VAT)_
- **Annual individual income tax return deadline** — 30 April of the year following the year of income  _(Income Tax Act (Chap. 75:01) — https://taxsummaries.pwc.com/trinidad-and-tobago/individual/tax-administration)_
- **Annual corporation tax return deadline** — 30 April following the end of the income year  _(Corporation Tax Act (Chap. 75:02) — https://taxsummaries.pwc.com/trinidad-and-tobago/corporate/tax-administration)_
- **Green Fund Levy** — 0.3% of gross income/receipts, payable by companies and partnerships percent  _(Miscellaneous Taxes Act (Chap. 77:01) — https://taxsummaries.pwc.com/trinidad-and-tobago/corporate/other-taxes)_
- **Business Levy** — 0.6% of gross revenue/receipts, payable where it exceeds the corporation/income tax liability percent  _(Corporation Tax Act (Chap. 75:02) — https://taxsummaries.pwc.com/trinidad-and-tobago/corporate/other-taxes)_

## Today's figures and who stands behind this skill

This file is an AI skill (tax rules your AI follows) from OpenAccountants, copied on 2026-07-13. Rates, thresholds and deadlines change. For the current version of this skill, its official sources and the named accountant (if any) who stands behind it, call `get_skill` with slug `tt-tax-overview` on the OpenAccountants connector (https://www.openaccountants.com/connect), or read https://www.openaccountants.com/skills/tt-tax-overview. If neither is available, confirm every figure against the official source pages cited above before relying on it.