Trinidad and Tobago MOF Issues Notice Regarding Extension of Tax Amnesty, National Insurance Amnesty

The Trinidadian and Tobagonian Ministry of Finance May 21 announced a further extension of the end date, to Aug. 2, from May 2, for the Tax and National Insurance Amnesty introduced under Finance Act, 2024. The amnesty applies to penalties and interest imposed in relation to: 1) individual income and corporate income taxes, withholding tax, Pay-as-You Earn, VAT, stamp duty, and other specified taxes, up to the year of income ending Dec. 31, 2023; and 2) national insurance contributions made prior to Oct. 1, 2024, for employers registered with the National Insurance Board before that date. Penalties and interest will ...