Wednesday, 14 September 2016

Originally posted on Facebook as "Financial Planning Tip November 17, 2015 -003 Withholding Tax"

"Here is an extract on withholding tax and those to whom that tax applies and the process which is used to assess whether you are required to pay the tax:

"Individuals and companies are required to register with the Inland Revenue Division (IRD) and obtain a Board of Inland Revenue (BIR) file number before taking up employment or star...ting operations in Trinidad and Tobago.

Nonresidents must visit the International Tax Unit of the IRD for evaluation and to determine their tax liability in Trinidad and Tobago.

A non-resident is a person who is employed or a company that is operating in T&T for a period of less than 183 days in any year.

Non-residents are subject to tax on their total income unless they qualify under a specific legal exemption. Non-residents are not entitled to tax deductions." 

Here is a link to view the information which has been provided above and additional information on the topic :

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