Trinidad’s Government extends deadline for tax amnesty
Key Points(4)
- The Trinidad and Tobago government has extended the deadline for the tax amnesty to May 19, acknowledging that the original target of TT$500 million (One TT dollar=US$0.16 cents) has been exceeded.
- “To date, the original target of TT$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,” the ministry said in a brief statement.
- Last December, the Ministry of Finance said it was inviting all relevant members of the public to take advantage of amnesty which ran from November 14th, 2022 to March 17th, 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,” the government said then.
The Trinidad and Tobago government has extended the deadline for the tax amnesty to May 19, acknowledging that the original target of TT$500 million (One TT dollar=US$0.16 cents) has been exceeded.
A statement by the Ministry of Finance said that the extended deadline of the amnesty gives 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 TT$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,” the ministry said in a brief statement.
Last December, the Ministry of Finance said it was inviting all relevant members of the public to take advantage of amnesty which ran from November 14th, 2022 to March 17th, 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,” the government said then.
CMC/
