The Ministry of Finance wishes to advise that the time period for the Board of Inland Revenue to issue a Notice of Assessment has been further extended from July 31, 2024 to August 16, 2024 vide Legal Notice No. 132 of 2024 (see the Legal Notice attached). This has become necessary to permit the Board…
Based on representation and requests made by members of the general public, the Minister of Finance, Hon. Colm Imbert, M.P., recently authorized the Board of Inland Revenue to pay all individual income tax refunds of up to $20,000 or less.
The Minister of Finance, Hon. Colm Imbert, MP, wishes to announce that the 2022/2023 tax amnesty for the year of income ending December 31, 2021 has been extended to August 31, 2023. This decision has been taken in consideration of the fact that under Section 29(1)(d) of the Public Procurement and Disposal of Public Property…
In keeping with the Ministry of Finance’s 2023 ‘VAT Bonds’ initiative, the Board of Inland Revenue (BIR) has announced that persons registered for VAT, (VAT Registrants) can now apply for the payment of outstanding VAT refunds, via VAT Bonds. The BIR further advises that the VAT Bonds would be issued with a three (3) year…
The Minister of Finance, Hon. Colm Imbert, MP, wishes to advise that the tax amnesty has been extended to May 19, 2023, to give businesses and individuals more time to prepare their financial statements and finalize the necessary documentation to submit their tax returns and pay the taxes due for the year of income 2021…
In the framework of the ‘Project for the Control of Transfer Pricing Operations in Trinidad and Tobago’, funded by the Development Bank of Latin America (CAF), a CIAT team visited the Ministry of Finance of Trinidad & Tobago and its Inland Revenue Division (IRD) during the period March 2-5, 2023; with the aim to formulate…
The Board of Inland Revenue advises the public that the Tax Amnesty has been extended to March 17, 2023.
The Minister of Finance, Honourable Colm Imbert, MP, wishes to advise that to give taxpayers a final opportunity to get their financial records in order and to file their tax returns, the 2021 Tax Amnesty has been extended to Friday, October 15th, 2021. It should be noted that there will be no further extension of…