Trinidad and Tobago

Social security contributions

Social security tax, referred to as National Insurance, is deducted at source at varying rates.

Effective January 2026, the contribution rate is 16.2%. The maximum total weekly contribution is TTD 508.50 for monthly income of TTD 13,600 and over, payable TTD 339.00 by the employer and TTD 169.50 by the employee.

Effective January 2027, the contribution rate increases to 19.2%. The maximum total weekly contribution will increase to TTD 602.40 for monthly income of TTD 13,600 and over  payable TTD 401.60 by the employer and TTD 200.80 by the employee.

Health surcharge

A health surcharge is payable by all individual taxpayers and is deducted at source by employers. The maximum rate is TTD 8.25 per week for monthly income over TTD 470.

Consumption taxes

Value-added tax (VAT)

VAT is applicable to a wide range of goods and services. The standard rate applicable to commercial supplies is 12.5%.

See the Other taxes section in the Corporate summary for more information.

Net wealth/worth taxes

There are no net wealth/worth taxes in Trinidad and Tobago.

Inheritance, estate, and gift taxes

There are not inheritance, estate, or gift taxes in Trinidad and Tobago.

Insurance premium tax

A tax on general insurance premiums at the rate of 6% is imposed. Excluded are long-term (life) insurance business, commercial insurance relating to ships and aircraft, loss of or damage to goods in international transit, risks arising outside Trinidad and Tobago, and reinsurance. The 6% tax is collected from policyholders and paid over to the Board of Inland Revenue (BIR) by the insurance company.