Government of the Republic of Trinidad and Tobago

Category: Media Release

Speech by the Honourable Colm Imbert, Minister of Finance at the Trinidad and Tobago Chamber of Industry and Commerce on Tuesday 11th February, 2025: Propelling SMEs for Success in 2025

By Media Release, News, Speeches,

As we are all aware, Small and Medium Enterprises (SMEs) are critical to the development of Trinidad and Tobago. At present, there are approximately 20,000–25,000 SMEs, representing roughly 95% of the registered businesses in the country, and they employ nearly 200,000 persons in the workforce. They also contribute significantly to employment and innovation in Trinidad…

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Media Release – Trinidad and Tobago removed by the OECD from the list of countries with harmful Tax Practices

By Media Release, News,

The Minister of Finance, Hon. Colm Imbert, MP, wishes to advise that in January 2025, Trinidad and Tobago was deemed by the OECD Forum on Harmful Tax Practices to be free from harmful tax practices, and removed from the list of countries with such practices in February 2025. The OECD Forum on Harmful Tax Practices…

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Media Release – Tax and NIS Amnesties extended to March 31, 2025

By Inland Revenue Division, Media Release, News, ,

The Minister of Finance, Hon. Colm Imbert, MP, wishes to advise that as of Monday, January 27, 2025, the Tax Amnesty had raised $2.38 billion in revenue.Compared to previous years, the current Tax Amnesty is now on par with the 2019 tax amnesty, which was the most successful tax amnesty granted in the history of…

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Media Release – Value Added Tax (VAT) Bonds Application Forms are available Online

By Inland Revenue Division, Media Release, News, ,

In keeping with the Ministry of Finance’s 2025 ‘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 on a first come, first…

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Media Release – Ministers Imbert and Beckles-Robinson Host Courtesy Visit with IDB Representatives

By Media Release, News,

The Honourable Colm Imbert Minister of Finance along with the Honourable Pennelope Beckles-Robinson, Minister of Planning and Development met with a visiting mission from the Inter-American Development Bank (IDB) on Tuesday 21st January, 2025 at the Eric Williams Finance Building (EWFB), Port of Spain. The IDB Team was led by Mr. Jordan Schwartz – Executive…

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Media Release – Cash Flow, not Bureaucracy, at the Core of VAT Refunds delay

By Inland Revenue Division, Media Release, News, ,

The Minister of Finance notes concerns raised by the Daily Express in its editorial “Drowning in VAT bureaucracy” centred around the “tardiness in repaying VAT to companies” and wishes to address the issues raised.Cash flow constraints have resulted in a 1-month delay in completing this exercise, not bureaucracy.

Media Release: Moody’s affirms Trinidad and Tobago’s Ba2 rating with Stable Outlook

By Finance News, Government of the Republic of Trinidad and Tobago, Media Release, Ministry of Finance, ,

On December 16, 2024, Moody’s affirmed Trinidad and Tobago’s rating at Ba2 with a Stable outlook. This affirmation is underpinned by the country’s return to sustained growth, primarily driven by the non-energy sector.Despite lower-than-projected energy revenues in fiscal year 2024, which have increased the fiscal deficit to 4.8% of GDP from 1.7% in fiscal year…

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Media Release – Exemption of Customs Duty, VAT, and Online Purchase Tax on Sporting Equipment, Electric Vehicle Chargers and Parts

By Customs & Excise Division, Government of the Republic of Trinidad and Tobago, Media Release, Ministry of Finance, News,

The Minister of Finance, Honourable Colm Imbert, MP, wishes to advise that in keeping with the Budget Statement for the Financial Year 2025, there is a waiver of all Customs Duty, Valued Added Tax, and Online Purchase Tax on the following, effective January 1, 2025 (see Legal Notice Nos. 249, 250 and 251 of 2024…

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