Trinidad and Tobago Tax Rates
Trinidad and Tobago operates a relatively straightforward tax system administered by the Board of Inland Revenue (BIR). The country levies a flat 25% personal income tax rate, a 30% corporate tax rate (with a 35% rate for petrochemical companies), and a 12.5% value-added tax. As the largest oil and gas producer in the Caribbean, Trinidad and Tobago has a significant petroleum tax regime alongside its general tax framework.
Top Income Tax Rate
25%
Corporate Tax Rate
30%
VAT / Sales Tax
12.5%
Capital Gains Tax
0%
Detailed Tax Information
Income Tax Brackets
Trinidad and Tobago imposes a personal income tax with a personal allowance of TTD 84,000 annually. Income up to TTD 1,084,000 is taxed at 25%, and income above that threshold is taxed at 30% (introduced in 2016 as a higher bracket). Residents are taxed on worldwide income; non-residents on Trinidad and Tobago-source income only. Employment income is subject to PAYE withholding. Deductions include mortgage interest (up to TTD 30,000), tertiary education expenses, and contributions to approved pension plans.
| Income Range | Tax Rate |
|---|---|
| TT$0 – TT$84K | 0% |
| TT$84K – TT$1.1M | 25% |
| TT$1.1M+ | 30% |
Corporate Tax
Trinidad and Tobago imposes a 30% corporate income tax on resident companies. Petrochemical companies and banks with annual gross income exceeding TTD 1 billion are subject to a 35% rate. Small and medium companies may benefit from incentives through the government's enterprise development programs. Companies in Free Trade Zones enjoy exemptions from corporate income tax. The petroleum sector is subject to additional taxes including the Supplemental Petroleum Tax (SPT) and the Petroleum Profits Tax (PPT) at varying rates.
Standard Rate
30%
Capital Gains Tax
Trinidad and Tobago does not impose a capital gains tax. Gains from the sale of real estate, shares, and other capital assets are not subject to taxation. However, gains from the disposal of assets used in a business may be treated as business income.
Rate
0%
VAT / Sales Tax
Trinidad and Tobago levies a 12.5% value-added tax (VAT) on most goods and services. Essential items including basic food items, prescription drugs, and agricultural inputs are zero-rated. Educational services, financial services, residential rental, and medical services are exempt. Exports are zero-rated. Monthly VAT returns are required.
Standard Rate
12.5%
Cryptocurrency Tax
Trinidad and Tobago does not have specific cryptocurrency legislation. The Central Bank has cautioned against the use of virtual currencies but has not provided specific tax guidance. Since there is no capital gains tax, crypto trading gains may not be directly taxable unless considered business income.
Tax Treaties
Trinidad and Tobago has approximately 18 double taxation agreements in force, including treaties with the US, UK, Canada, and several European and Asian countries. As a CARICOM member, Trinidad and Tobago benefits from the CARICOM multilateral double taxation agreement. The country participates in the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Treaty Network
18
Double taxation agreements
Major treaty partners:
Key Details
Relocate to Trinidad and Tobago
See how much you could save by moving here from your current country.
+$16K
Tax in United States
$24K
24.4% effective
Tax in Trinidad and Tobago
$8K
8.2% effective
You Save
66.3%
less tax annually
US Citizens: Important Note
US citizens are taxed on worldwide income regardless of residence. You'll still need to file US taxes, though the Foreign Earned Income Exclusion and Foreign Tax Credit may reduce your liability.
