Tax on property income in Trinidad and Tobago

INDIVIDUAL TAXATION

Nonresidents are taxed on their income from Trinidad and Tobago. Married couples are assessed separately.

INCOME TAX

Income from all sources is taxed at a progressive rate from 25%-30%

INCOME TAX

TAXABLE INCOME. TTD (US$)
TAX RATE
Up to 1 million (US$147,426)
25%
Over 1 million (US$147,426)
30% on band over US$147,426
Source: Global Property Guide

CAPITAL GAINS
Capital gains accruing on the disposal of an asset within twelve months of acquisition are subject to income tax and taxed at progressive rates. Otherwise, there is no capital gains tax.


PROPERTY TAX

REAL ESTATE TAX

Property owners are liable to pay real estate tax and the tax base is 90% of the annual rental value of the property The tax rate varies, depending on the property classification and use. Residential properties are taxed at a flat rate of 3%.

REAL ESTATE TAX

PROPERTY CLASSIFICATION
TAX RATE
Industrial Property
6%
Commercial Property
5%
Residential Property
3%
Agricultural Property
1%
Source: Global Property Guide

CORPORATE TAXATION

INCOME TAX

Income and capital gains earned by ordinary companies are taxed at a flat rate of 30%. Income-generating expenses are deductible when calculating taxable income.