TT Value-added tax (VAT) Rates Trinidad and Tobago — Value-added tax (VAT)

General VAT Rate Other Rates Local Currency
13% 0% Dollar (TTD)

Trinidad and Tobago's general VAT rate is 13%, with other rates including 0% that can apply to certain transactions. The Value-added tax (VAT) is administered by the Board of Inland Revenue in Port of Spain.

Trinidad and Tobago is a member of the Caribbean Community (CARICOM) trading bloc, which may affect international VAT collection and regulations.

Trinidad and Tobago's consumption tax is called the Value-added tax (VAT), which was introduced in January 1990.

Value Added Tax Administration Centre

20, St. Vincent Street

Port-of-Spain

Trinidad


Trinidad and Tobago VAT rates for 2017

Standard
12.5% (from February 2016)
Other
Zero-rated and exempt

Trinidad and Tobago VAT number format

Businesses in Trinidad and Tobago that are required to collect tax will be issued an identification number. Tax identification numbers can be verified with the Board of Inland Revenue, and will follow a certain format. The VAT number format is 999999 (6 digits).


Trinidad and Tobago VAT return periods

Businesses in Trinidad and Tobago that are required to collect tax from consumers must file regular tax returns with the Board of Inland Revenue in Port of Spain. Trinidad and Tobago's VAT return periods are:

Two-monthly


Trinidad and Tobago Value-added tax (VAT) Thresholds

These are the revenue thresholds at which businesses in Trinidad and Tobago are required to start collecting and remitting tax.

Registration
TTD500,000 (from 1 January 2016)

Recovery of VAT by non-established businesses

Non-established businesses are small, unincorporated businesses that sell taxable goods and may consist of a single individual, or several. Non-incorporated businesses in Trinidad and Tobago are not required to collect taxes from the consumer.


Trinidad and Tobago VAT Refunds

Many countries allow tourists, and others making purchases for export, to receive a VAT refund on exiting the country (or make purchases VAT free). While we don't have data on the Trinidad and Tobago VAT refund program, more info can be obtained from the Board of Inland Revenue.


TT Value-added tax (VAT) Rates Trinidad and Tobago Tax Sources & Citations

  • EN: Trinidad and Tobago Value Added Tax
  • RU: НДС
  • CN: 增值税
Note: This page is intended to be a simple overview of Trinidad and Tobago's consumption tax structure, is provided as-is, and is not legal advice. Please let us know if any of the Trinidad and Tobago tax information on this page is incorrect or out of date.
Citations:
  1. Trinidad and Tobago Board of Inland Revenue (accessed 2017)
  2. Ernst & Young global VAT tax study, Trinidad and Tobago (updated 2017)

  3. ← Back to World VAT Rates
** This Document Provided By SalesTaxHandbook **
Source: http://world.salestaxhandbook.com/tt-trinidad-and-tobago