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Complete Taxes

$250.00 – $650.00

Documents should be provided to complete this service within 4 days from submitting this service request.  

Key information

Tax returns, filed for income earned, must be filed by April 30th of the year following the calendar or accounting year-end.

While there are automatic grace periods, there is an accruable fine where Returns remain unfilled per guidelines.

NB: The Government of Trinidad and Tobago sets the dollar value limits on all Tax Deductables.  

Price is ‘per year’

Description

Some of the documents required for Individual Filing are listed under ‘Additional Information’ below.

Visit the office to review the documents required for Company filing.

Additional information
Tertiary Education Expenses

Limited to $72,000 – the following are required:

1. Acceptance Letter
2. Proof of Payment
3. Statement of Expenses.

Only fees/payments made to a foreign Tertiary Institution will be allowed as an expense.
First Time Home Owner

Limited to $25,000 – the following are required:

– Where the property is constructed or purchased (1) A copy of the Completion Certificate or (2) Deed of Conveyance respectively must be provided.
– The individual must provide evidence of proof of ownership
– Certificate of Assessment.
– The individual must satisfy the B.I.R. that the house to be used as a residence is a first-time acquisition.
– The individual must provide an original statement from a financial institution/affidavit confirming first time acquisition and date property was acquired.
Deed of Covenant

LIMITED TO 15% OF TOTAL INCOME

– Proof of Payments.
– Copy of the Deed of Covenant
Alimony or Maintenance

PAYMENTS MADE IN ACCORDANCE WITH A COURT ORDER

– Copy of Court Order and Proof of Payment.
– Affidavit where claim is made in respect of a common law relationship
Traveling Expenses

– Statement of expenses incurred (limited to 2/3 of expenses).
– Letter from employer certifying your requirement to travel to your official duties, copy of approval of dispensation where this is granted by Board of Inland Revenue.
Conversion to Guest House

– Approval from Ministry of Tourism.
– Detailed Statement of Expenditure.
– Completion Certificate.
Venture Capital Investment

The tax credit for a venture capital investment – 30% of face value of bonds purchased

– copy of tax credit certificate.
– purchase of national tax-free savings bonds with maturity of 5, 7, or 10 years
– 25% of the face value of bonds purchased, limited to $5,000
– Copy of Tax Credit Certificate.
CNG Kit & Cylinder Tax Credit

– Provide receipt of purchase and installation cost of CNG Kit and Cylinder.
– Certified copy of ownership of vehicle.
Solar Water Heating Equipment

TAX CREDIT

– Provide receipt of the cost of the Solar Water Heating System.
Contributions / Premiums

CONTRIBUTIONS/PREMIUMS PAID TO DEFERRED ANNUITY/TAX SAVINGS/PENSION FUND PLANS AND 70% NIS CONTRIBUTIONS – LIMITED TO $50,000 AS OF 01/01/2015

– Original document from Insurance Company/Financial Institution.
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