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Trinidad & Tobago Value Added Tax - VAT

Trinidad & Tobago Value Added Tax - VAT

When I lived in Trinidad, the VAT was introduced as a mandate for paying off the loans that the country took out to pay debts, etc. This was in 1990 and I thought it was only supposed to be around for a specified time period, but I may be wrong there. Anyway, I know there wasn't a great welcome for VAT at the time, but it seems now people are just resigned to the fact that it will be around for a long time. What are your views on VAT? Are there alternatives to VAT that are worth considering?

VAT Tax Added Tobago and Trinidad

This was the craziest idea started by Robinson and then continued by other governments that benefited from it. First off in the US when a State has a tax law it is about 3-7%, we are at 15%! Globally, if a tax percentage is raised by 0.5% then people start to get edgy and complain - we went from 0% to 15% in one go! I think it is ridiculous and you never hear the government saying anything about its reduction - why? The people in T&T are still living in the 'slave times' - whatever is dished out to you - take it!

Trinidad & Tobago Value Added Tax - VAT Caribbean / Tobago & Trinidad

Has the topic of VAT ever come up during election time? Shouldnt there be an end to the amount of taxes that the country has to pay especially when the number of poverty-line folks is getting higher and higher?

VAT Tax Added Tobago and Trinidad

That is the funny thing, it never seems to be an issue - VAT that is... the only thing I hear sometimes is people saying that there should not be VAT on food, but that is it. As for tax, the way it works now it that you calculate your profit above $25,000TT and then pay 28% on that. So the government takes almost 1/3 of your income and then charges you 15% everytime you buy something!

VAT Tax Added Tobago and Trinidad

General information about Taxation in Trinidad & Tobago can be Discussed here: Source 4

Trinidad & Tobago Value Added Tax - VAT

I was too young to know about VAT when it was first introduced but wasn't it supposed to be reduced over time? Every new party that took office never reduced VAT but instead kept it the same.