Trinidad and Tobago: New taxes in Finance Act 2025 include commercial asset levy
Effective January 1, 2026
The Finance Act 2025 introduced the following new taxes, initially proposed as part of the 2026 budget (read TaxNewsFlash)—effective January 1, 2026:
- Commercial asset levy of 0.25% on commercial banks and insurance companies, excluding institutions in special economic zones
- Landlord business surcharge of 2.5% of gross quarterly rental income up to TT$20,000 and 3.5% of gross quarterly rental income in excess of TT$20,000
- Electricity surcharge of TT$0.05 per kilowatt-hour (kWh) for commercial and industrial customers
- Single-use plastics tax of 5% on cost, insurance, and freight (CIF) value of single-use plastic products at the point of importation
Read a January 2026 report prepared by the KPMG member firm in Trinidad and Tobago