Last Updated: Tuesday 11th April, 2023
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.
1. Amnesty at Companies' Registry at the Ministry of the Attorney General and Legal Affairs (AGLA) until 14th NOVEMBER 2023.
The Attorney General, by Legal Notice No. 89 of 2023 dated April 6th, 2023, extended the time for the waiver of late fees for late filings of documents required to be filed by companies to the 14th of November, 2023. These documents include annual returns and beneficial ownership filings. It means that companies have until November 14th, 2023 to file such documents without paying late fees.
2. Amnesty at the Board of Inland Revenue until 19th MAY, 2023
Act No. 21 of 2022 (The Finance Act, 2022) provides for a Tax Amnesty in Trinidad and Tobago until the 19th of May, 2023. This facility allows for the waiver of penalties and interest charges for outstanding taxes due and paid during the Amnesty period. It means that companies and individuals have until May 19th, 2023, to pay up their taxes without incurring any penalties.
It's important to make a note of these dates and make the required filings if you haven't already to avoid paying penalties. We encourage you to take advantage of the facility while it subsists. You can also feel free to join our mailing list and/or visit our website to receive further updates on any other compliance amnesties or extensions that may arise.
Important Notice: This post does not constitute legal advice. Always consult with a suitably qualified attorney-at-law on any legal problem or issue
Law for All is managed by the Aurora Chambers Legal Practice.
13/4/2023 08:18:00 pm
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