PORT OF SPAIN, Trinidad, CMC – 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 a brief statement.
Last December, the Ministry of Finance said it invited all relevant public members to take advantage of Amnesty from November 14, 2022, to March 17, 2023.
“This facility allows for the waiver of penalties and interest charges payable by taxpayers on outstanding tax liabilities about taxes under the revenue laws,” the government said then.
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