June 4, 2025
By Cari Chandler-Martin

A tax amnesty is a time-limited opportunity offered by the State that allows taxpayers to pay outstanding taxes without having to pay accrued penalties and interest. It’s essentially a financial reset—a legal way to clear your debts to the tax system without facing the full cost of late payment.

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​The Government of Trinidad and Tobago has announced an extension of the Tax and National Insurance Amnesty until May 2, 2025. Initially established by the Finance Act of 2024, the amnesty was originally set for October 1 to December 31, 2024, and had previously been extended to March 31, 2025. This latest extension provides taxpayers and employers additional time to regularize their tax and national insurance obligations without incurring penalties or interest.

​The Property Tax (Amendment) Act, 2024, introduced to Parliament, on March 15, 2024, and assented to on March 27, 2024, heralds a shift in the property tax landscape of Trinidad and Tobago. By amending the Property Tax Act Chapter 76:04, this Act addresses concerns of property owners over the fairness and accuracy of property tax assessments, marking a step toward a more equitable and transparent property tax regime.

​The Property Tax Act Chapter 76:04 of Trinidad and Tobago, while a crucial piece of legislation, can often seem complex and daunting to understand for many. This law outlines how property tax is assessed, collected, and managed across the nation, affecting homeowners, landowners, and businesses alike. Let's break it down into more digestible parts to make it easier to understand.

​We encourage our clients to ensure their businesses are fully compliant under the laws of Trinidad and Tobago; this includes meeting company filing requirements at the Companies Registry and meeting tax requirements at the Board of Inland Revenue. Presently, there are amnesties at both the Companies Registry at the Ministry of the Attorney General and Legal Affairs and at the Board of Inland Revenue at the Ministry of Finance. These amnesties give businesses and individuals the chance to submit late filings without having to pay any accompanying late fees or penalties. 

​Thinking about buying, selling or gifting property to someone in Trinidad and Tobago? The process of transferring property can seem a bit confusing. Here we'll make it easier by pointing out 7 things you should know when transferring property in T&T.