Trinidad and Tobago: Tax measures in Finance Act 2022

Increase in VAT registration threshold; tax amnesty on penalties and interest

Increase in VAT registration threshold; tax amnesty on penalties and interest

The Finance Act, 2022 (assented to on 14 November 2022) includes the following tax-related measures:

  • Increase in the value added tax (VAT) registration threshold from $500,000 to $600,000* per year
  • Tax amnesty on penalties and interest on any tax owed (including income tax, business tax, withholding tax, corporation tax, VAT, stamp duty and property tax) with respect to tax years up to and including the year ending 31 December 2021, from 14 November 2022 to 17 February 2023

Read a November 2022 report [PDF 1.1 MB] prepared by the KPMG member firm in Trinidad and Tobago

*All amounts are in TT$ 



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