Trinidad and Tobago

Persons who are resident, ordinarily resident, or domiciled in Trinidad and Tobago are taxed on their worldwide income, whether or not such earnings are remitted to Trinidad and Tobago. A non-resident individual is taxed on income arising in Trinidad and Tobago, subject, where applicable, to the provisions of double taxation treaties (DTTs).

Personal income tax rates

The income tax rate for individuals with chargeable income less than 1 million Trinidad and Tobago dollars (TTD) is 25%. For chargeable income in excess of TTD 1 million, the rate of tax applicable is 30%.

Business levy

Business levy of 0.6% is applicable to sole traders and self-employed individuals having gross income or receipts in excess of TTD 360,000 per annum. It is payable if and to the extent that the business levy liability exceeds the individual’s income tax liability. It does not apply to income that is exempt from income tax and is not payable in the first three years following commencement of the business activity.