Tax on property income in Trinidad and Tobago
Tax Rate on Rental Income |
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| Monthly Income | US$1,500 | US$6,000 | US$12,000 |
| Tax Rate | 25% | 25% | 25% |
| Click here to see a worked example | |||
| Source: Global Property Guide research |
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INDIVIDUAL TAXATION
Nonresidents are taxed on their income from Trinidad and Tobago. Married couples are assessed separately.
INCOME TAX
Income from all sources is taxed at a progressive rate from 25%-30%
INCOME TAX |
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| TAXABLE INCOME. TTD (US$) | |
| Up to 1 million (US$147,426) | |
| Over 1 million (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 |
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| PROPERTY CLASSIFICATION | |
| Industrial Property | |
| Commercial Property | |
| Residential Property | |
| Agricultural Property | |
| 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.
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