The Value Added Tax Act, #37/89 requires most businesses and many organizations in Trinidad and Tobago to:
- Register with the VAT Administration Centre.
- Collect tax at twelve and a half per cent (12.5%) on supply of goods and prescribed services.
- Remit the Net VAT collected to the Cashiers Unit, Inland Revenue Division.
- File a VAT return.
Do I Need One?
All persons making commercial supplies of $500,000 or more in the preceding twelve-month period or having evidence (in the sales forecast) supplies will exceed $500,000 in a twelve (12) month period must apply for VAT Registration.
What is needed?
The following, depending on the business type (click to expand)
- Completed form AOI-002
- Valid form of identification for every Directory of the company