4th quarter 2020 tax instalments - Trinidad & Tobago

Trinidad and Tobago 4th quarter tax payments are due on or before 31 December 2020. Where it is estimated that your company’s chargeable/ taxable profits for income year 2020 will be less than 2019, an application must be made to the Inland Revenue Division (“IRD”) of Trinidad and Tobago, for a reduction in your quarterly tax instalments.

Interest at the rate of 20% per annum is imposed for the short payment (where prior approval is not obtained) of taxes and on the late payment of levies and taxes.

We would be pleased to assist you in preparing the tax computation to support the application for a reduction of the company’s quarterly tax instalments for income year 2020.