- Apply the standard 12.5% VAT rate to all digital and remote services supplied by nonresident providers to persons in Trinidad and Tobago, with simplified electronic VAT registration, collection, and remittance effective March 1, 2027.
- Impose a flat TT$100 penalty for each two-month period that VAT returns remain outstanding, effective January 1, 2027.
- Make electronic filing through the Inland Revenue Division’s GENTAX system mandatory for all taxpayers.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Trinidad and Tobago"
- Trinidad and Tobago’s Digital VAT Plan Faces GATS and Drafting Challenges
- Trinidad and Tobago to Tax Foreign Digital Services with New VAT System
- Trinidad and Tobago to Tax Non-Resident Digital Services from 2027
- Trinidad and Tobago to Tax Foreign Digital Services from 2027
- VAT on Digital and Remote Services in Trinidad and Tobago
