Tax Amnesty – Ministry of Finance https://www.finance.gov.tt Government of the Republic of Trinidad & Tobago Fri, 31 Jan 2025 17:34:58 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 Media Release – Tax and NIS Amnesties extended to March 31, 2025 https://www.finance.gov.tt/2025/01/31/media-release-tax-and-nis-amnesties-extended-to-march-31-2025/ Fri, 31 Jan 2025 17:34:54 +0000 https://www.finance.gov.tt/?p=44425 Read More+

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The Minister of Finance, Hon. Colm Imbert, MP, wishes to advise that as of Monday, January 27, 2025, the Tax Amnesty had raised $2.38 billion in revenue.

Compared to previous years, the current Tax Amnesty is now on par with the 2019 tax amnesty, which was the most successful tax amnesty granted in the history of Trinidad and Tobago in terms of collections. It is now likely that the current 2024/2025 tax amnesty will exceed the collections in 2019.

Additionally, it is important to note that under the Public Procurement and Disposal of Public Property Act, which was proclaimed in 2023, Small and Medium Enterprises (SMEs) which are not up to date with their tax and National Insurance payments face significant challenges in participating in procurement proceedings by Ministries, Statutory Authorities and State Enterprises.

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]]> Media Release – Extension of the Tax Amnesty and National Insurance Amnesty to January 31, 2025 https://www.finance.gov.tt/2025/01/02/media-release-extension-of-the-tax-amnesty-and-national-insurance-amnesty-to-january-31-2025/ Thu, 02 Jan 2025 19:14:54 +0000 https://www.finance.gov.tt/?p=44347 Read More+

]]> The Minister of Finance, Honourable Colm Imbert, MP, wishes to advise that the Tax Amnesty and National Insurance Amnesty introduced by the Finance Act 2024, which expired on December 31, 2024, will be extended to January 31, 2025. In this regard, the necessary Orders to extend the deadline will be published by tomorrow, Friday, January 3, 2025, and be retroactive to December 31, 2024.

The public is reminded that the extended Tax Amnesty covers penalties and interest in relation to the following unpaid taxes for previous years and the year of income ending December 31, 2023:

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]]> Media Release: Extension of 2022/2023 Tax Amnesty for the year of income 2021, to August 31, 2023 https://www.finance.gov.tt/2023/06/30/media-release-extension-of-2022-2023-tax-amnesty-for-the-year-of-income-2021-to-august-31-2023/ Fri, 30 Jun 2023 16:31:15 +0000 https://www.finance.gov.tt/?p=42378 Read More+

]]> The Minister of Finance, Hon. Colm Imbert, MP, wishes to announce that the 2022/2023 tax amnesty for the year of income ending December 31, 2021 has been extended to August 31, 2023.

This decision has been taken in consideration of the fact that under Section 29(1)(d) of the Public Procurement and Disposal of Public Property Act, all suppliers and contractors to public bodies must have “fulfilled their obligations to pay all required taxes and contributions in Trinidad and Tobago”

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]]> Media Release: Tax Amnesty Extended to May 19, 2023 https://www.finance.gov.tt/2023/03/16/media-release-tax-amnesty-extended-to-may-19-2023/ Fri, 17 Mar 2023 00:54:22 +0000 https://www.finance.gov.tt/?p=42067 Read More+

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The Minister of Finance, Hon. Colm Imbert, MP, wishes to advise that the tax amnesty has been extended to May 19, 2023, to give businesses and individuals more time to prepare their financial statements and finalize the necessary documentation to submit their tax returns and pay the taxes due for the year of income 2021 and prior years.

To date, the original target of $500 million from the amnesty has been exceeded, which has assisted the Government’s cash flow to a significant extent, especially during a time of declining oil and gas prices.

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]]> Public Notice – Tax Amnesty 2022/2023 Extension https://www.finance.gov.tt/2023/02/14/public-notice-tax-amnesty-2022-2023-extension/ Tue, 14 Feb 2023 20:00:58 +0000 https://www.finance.gov.tt/?p=41964 The Board of Inland Revenue advises the public that the Tax Amnesty has been extended to March 17, 2023.

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]]> Public Notice – Tax Amnesty 2022/2023 https://www.finance.gov.tt/2022/12/06/public-notice-tax-amnesty-2022-2023/ Tue, 06 Dec 2022 13:00:00 +0000 https://www.finance.gov.tt/?p=41745 The Ministry of Finance invites all relevant members of the public to take advantage of the Tax Amnesty which runs from November 14th, 2022 to August 31, 2023. This facility allows for the waiver of penalties and interest charges payable by taxpayers on outstanding tax liabilities in relation to taxes under the revenue laws.

For further details, visit the Inland Revenue Division website at https://www.ird.gov.tt/taxamnesty/2023

Tax Amnesty Frequently Asked Questions

]]> Media Release: Final Extension of the Tax Amnesty to October 15th, 2021 https://www.finance.gov.tt/2021/10/02/https-www-finance-gov-tt-wp-content-uploads-2021-10-media-release-tax-amnesty-extended-to-october-15th-2021-pdf/ Sat, 02 Oct 2021 18:45:41 +0000 https://www.finance.gov.tt/?p=39535 Read More+

]]> The Minister of Finance, Honourable Colm Imbert, MP, wishes to advise that to give taxpayers a final opportunity to get their financial records in order and to file their tax returns, the 2021 Tax Amnesty has been extended to Friday, October 15th, 2021.

It should be noted that there will be no further extension of the 2021 Amnesty after October 15th, 2021.

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]]> MEDIA RELEASE: TAX AMNESTY EXTENDED TO OCTOBER 1ST, 2021 https://www.finance.gov.tt/2021/09/18/media-release-tax-amnesty-extended-to-october-1st-2021/ Sat, 18 Sep 2021 13:07:23 +0000 https://www.finance.gov.tt/?p=39460 The Minister of Finance, Honourable Colm Imbert, MP, wishes to advise that to give taxpayers some more time to file their returns, and in recognition of the difficulties associated with the Covid-19 pandemic, the Tax Amnesty has been extended to Friday October 1st, 2021.

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]]> Tax Amnesty 2021 https://www.finance.gov.tt/2021/07/26/tax-amnesty-2021-inland-revenue-division/ Mon, 26 Jul 2021 18:24:10 +0000 https://www.finance.gov.tt/?p=39176 Read More+

]]> The Tax Amnesty 2021 has been extended to Friday October 15th, 2021

The Ministry of Finance invites all relevant members of the public to take advantage of Tax Amnesty 2021 and avoid corresponding penalties and interest for outstanding taxes.
Tax Amnesty 2021 runs from July 5th, 2021 to Friday October 15th, 2021.

To learn more about Tax Amnesty 2021, including how to file and make payments, visit the IRD’s website at https://www.ird.gov.tt/taxamnesty/2021

Tax Amnesty 2021 Frequently Asked Questions

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VIDEOS

]]> Tax Amnesty 2021 Frequently Asked Questions https://www.finance.gov.tt/2021/07/26/tax-amnesty-2021-frequently-asked-questions/ Mon, 26 Jul 2021 13:33:30 +0000 https://www.finance.gov.tt/?p=39170 The Ministry of Finance invites all relevant members of the public to take advantage of Tax Amnesty 2021 and avoid corresponding penalties and interest for outstanding taxes.

Click here to access Frequently Asked Questions

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