Trinidad VAT cut to 12.5%

Trinidad and Tobago is planning to cut its standard VAT rate from 15% to 12.5% on 1 February 2016. To help fund the reduction, the VAT taxable base will be extended to include a range of over 7,000 basic products. In addition, the current VAT registration threshold will be raised. Details of the changes will be published in the forthcoming weeks.

The rate cut had been planned for 1 January 2016.