How to File Income Tax
Complete guide to filing your annual income tax return in Trinidad & Tobago
1. Overview
Income tax filing in Trinidad & Tobago is required for all individuals earning above the tax-free threshold. The Board of Inland Revenue (BIR) collects income tax to fund government services and national development.
Key Facts for 2024:
- Tax-free threshold: TT$84,000 annually
- Tax rates: 25% on income over TT$84,000
- Filing deadline: April 30, 2025
- Late filing penalty: TT$1,000 + 5% monthly interest
2. Who Must File
- • Annual income over TT$84,000
- • Self-employed individuals
- • Business owners
- • Rental property income
- • Investment income over TT$1,000
- • Multiple income sources
- • Income below TT$84,000
- • PAYE employees only
- • Students with part-time work
- • Retirees with pension only
Tip: File even if not required to claim refunds or establish tax history.
3. When to File
Filing Period
January 1 - April 30
Recommended
File by March 31
Best Practice
File early for faster refunds
4. Required Documents
- • National ID or Passport
- • TIN (Tax Identification Number)
- • Bank account details
- • Contact information
- • Employment income statements
- • Self-employment records
- • Rental income statements
- • Investment income records
- • Pension statements
5. Step-by-Step Filing Process
Gather Documents
Collect all required income and deduction documents
Access Online System
Log into the BIR online filing system
Enter Personal Information
Complete your personal and contact details
Report Income
Enter all sources of income for the tax year
Claim Deductions
Add eligible deductions and allowances
Review & Submit
Review calculations and submit your return
Make Payment
Pay any taxes owed or receive refund confirmation
6. Deductions & Allowances
- • Mortgage interest (up to TT$30,000)
- • Life insurance premiums
- • Medical expenses
- • Education expenses
- • Charitable donations
- • Professional development
7. Payment Options
Online Payment
Credit/debit cards, online banking
Bank Transfer
Direct bank transfer, ACH
Payment Plan
Installment arrangements
8. After Filing
Confirmation Receipt
You'll receive an immediate confirmation with reference number
Processing Time
Returns are typically processed within 30 days
Refund Timeline
Refunds are issued within 45 days of processing
Keep Records
Maintain copies of your return and supporting documents for 7 years