Trinidad and Tobago

Commercial asset levy

Effective 1 January 2026, a new commercial asset levy has been introduced under the Miscellaneous Taxes Act at the rate of 0.25% on the total assets (net of provisions for loan losses and taxation recoverables owed by the State) of each licensed financial institution and each local insurer. The levy is payable quarterly in advance on 31 March, 30 June, 30 September, and 31 December, with any outstanding balance due by 30 April of the following year. Returns must be filed by 30 April following the end of the financial year, and interest at the rate of 15% per annum is applicable for non-payment.

Landlord business surcharge

Effective 1 January 2026, a new landlord business surcharge has been introduced under the Miscellaneous Taxes Act. The surcharge is calculated at 2.5% of gross quarterly rental income where such income is TTD 20,000 or less, and 3.5% where gross quarterly rental income exceeds TTD 20,000. Landlords are required to register their premises with the BIR by 30 May 2026 and pay a one-time registration fee of TTD 2,500. The surcharge is payable quarterly. Exemptions apply to the State, State-controlled enterprises, hotels subject to the hotel accommodation tax, and approved ecclesiastical, charitable, or educational institutions.

Deduction for contributions to registered animal shelters

Effective for years of income commencing 1 January 2026, companies making bona fide financial contributions to registered animal shelters are entitled to deduct such contributions in ascertaining chargeable profits, subject to the lower of 15% of chargeable profits or TTD 100,000.