The Minister of Finance on September 30, 2024, presented the 2025 national budget statement, which includes tax measures that would:
- Introduce a tax amnesty program from October 1 to December 31, 2024, to provide taxpayers with a final opportunity to settle outstanding taxes before the Trinidad and Tobago Revenue Authority (TTRA) becomes fully operational
- Issue interest-bearing value added tax (VAT) bonds during fiscal 2025, totaling $3 billion,* with a target issuance date of January 31, 2025
- Make agriculture a tax-free industry by addressing existing ambiguities in tax laws that affect the interpretation of agricultural goods and equipment
- Exempt all sporting equipment from taxes and duties, except for clothing
- Eliminate all taxes on electric vehicles charging equipment
Read a September 2024 report prepared by the KPMG member firm in Trinidad and Tobago
*$ = Trinidad and Tobago dollar