Question 1

What is the standard Corporation Tax (CIT) rate in Trinidad and Tobago?

Accepted Answer

Under the Corporation Tax Act administered by the Board of Inland Revenue (BIR), the standard corporate tax rate is 30% on chargeable profits, while commercial banks and petrochemical companies are subject to 35%.

Question 2

How does the Business Levy work in Trinidad and Tobago?

Accepted Answer

Business Levy is charged at 0.6% on gross revenue/sales when the levy exceeds the corporate tax liability. An exemption applies during the company's first three years of commercial registration.

Question 3

What is the Green Fund Levy rate and who is required to pay it?

Accepted Answer

The Green Fund Levy is levied at 0.3% of gross income or receipts for all registered companies in Trinidad and Tobago, regardless of profitability or tax holiday status.

Question 4

Can corporate tax losses be carried forward indefinitely in Trinidad?

Accepted Answer

Yes, tax losses can generally be carried forward indefinitely, but loss offsets in any single year cannot exceed 50% of the taxable profit for that year.

Question 5

What are the quarterly Corporation Tax installment payment deadlines?

Accepted Answer

Corporation tax installments are due quarterly on March 31, June 30, September 30, and December 31, with final annual returns due by April 30 of the following year.

Tax / Levy Head	Statutory Rule / Rate	Amount (TTD)
Corporation Tax (CIT)	30% on chargeable profit	TT$0.00
Business Levy (0.6% on Gross)	0.6% on gross sales over TT$360k	TT$0.00
Net CIT / Business Levy Payable	Higher of CIT or Business Levy payable	TT$0.00
Green Fund Levy	0.3% of gross turnover (Non-deductible)	TT$0.00
Total Statutory Tax Payment to BIR		TT$0.00

Trinidad Corporate Tax & Levies Calculator

Corporate Tax & Levies Assessment

📊 Republic of Trinidad and Tobago Statutory Breakdown Matrix (BIR & NIBTT)

Engr. Muhammad Shahzad