Government of the Republic of Trinidad and Tobago

Statement by the Honourable Colm Imbert, MP, Minister of Finance on the Trinidad and Tobago Revenue Authority (TTRA) Strategic Plan 2023 – 2025 in the House of Representatives on February 24, 2023

The decision to establish the TTRA was driven by the need to address deficiencies in the current system stemming from limitations within the Public Service. Long standing deficiencies in the system have been identified and documented in feasibility and performance reports dating back as early as 2002.

Subsequent to the legislative process and passage of the TTRA Bill, 2021 in both Houses, the TTRA Act, 2021 was assented to by Her Excellency the President of Trinidad and Tobago on December 23, 2021.

The Act enables the TTRA to function according to its mandate, but through a hybrid system, whereby the Enforcement Division will still be guided by the Public Service Commission. Through benchmarking against several models, the structure chosen for the TTRA combines the functions of two divisions of the Ministry of Finance, namely the Inland Revenue Division (IRD) and the Customs & Excise Division (CED). As one revenue collecting agency, there will be several benefits and synergies, including cost efficiencies, data sharing and improved risk mitigation frameworks.