This Thread Reviews and Discusses government tax for sole traders, partnerships, corporations, and so forth. There are other specific Threads about taxation mentioned in the first Post.
Post Date: 30th Sep, 2016 - 11:24pm
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Based on the current national budget for 2016-2017 the people in Trinidad and Tobago can expect:
1. Income tax of 30% for those making a million or more a year.
2. A possible increase in taxi fares due to the increase in diesel or I should say due to the incremental removal of subsidies on diesel. This will inevitably increase food and other costs because businesses will claim it costs more to move goods when in fact truck drivers only have to pay a little more as diesel in a truck does not burn as fast as gasoline.
3. If you use less electricity than $300 a month you will get a 25% rebate.
4. 3% property tax which could mean an increase in rent by greedy landlords.
5. 7% extra on air freight orders purchased online.
Interestingly enough, Housing got the least budget this year so we know that means no big push with housing.
What are your thoughts about the budget?