Modern VAT Calculator
Want to calculate Trinidad and Tobago VAT? With our free VAT Calculator Trinidad and Tobago tool, you can add or remove VAT from the products or service prices. This tool can be convenient and practical for quickly calculating multiple products.
VAT is applied to products and services at each stage of production and is ultimately paid by the customer. If your business generates more than TT$500,000.00 in revenue annually, you must register for VAT. Companies developing less than TT$500,000.00 don’t need to register for VAT.
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VAT Rate in Trinidad and Tobago
The current standard VAT rate in Trinidad and Tobago is 12.5%. Not all the products or services are subjected to 12.5% VAT; few products and services are subjected to zero-rated VAT.
Zero-rate VAT products include food, export goods, crude oil, gas, etc. However, some products and services have 15% VAT in Trinidad.
Trinidad Value Added Tax History
VAT was first introduced in 2016, replacing the general consumption tax. However, it is a little older; value-added tax plays an essential role in the economic growth of Trinidad and Tango. VAT was first introduced with a 12.5% standard rate.