PUBLIC NOTICE - LANDLORD BUSINESS SURCHARGE CALCULATION

Tags: taxpayer relations, Landlord Business Surcharge, (LBS)

The Board of Inland Revenue (BIR) wishes to advise Landlords that currently there is no Landlord Business Surcharge (LBS) calculator on our website www.ird.gov.tt

Any calculators which may be circulating online was not authorized by the BIR.

Please see an example of how to calculate the quarterly Landlord Business Surcharge due:

Gross Rental
Income
per quarter

 Month 1 Month 2 Month 3 Total Rent LBS Rate

LBS due
(Total Rent
X
LBS Rate)
Under $20,000.00 $5,000.00 $5,000.00 $5,000.00 $15,000.00 2.5% $375.00
Over $20,000.00 $8,000.00 $8,000.00 $8,000.00 $24,000.00 3.5% $840.00

 

Please note: Where the gross quarterly rental income exceeds $20,000.00, all of the rental income is charged at 3.5%.

Please be guided by information on our website www.ird.gov.tt or call 800-8299 option 1.

TAXPAYER RELATIONS SECTION
Visit us at www.ird.gov.tt or call 800 TAXX (8299)
Option 1