DoubleTaxationTaxes on salary: Trinidad & Tobago preliminary data
How much income tax and social contributions are paid on a salary in Trinidad & Tobago, what a sole proprietor and a company pay, and which special regimes exist. Preliminary data.
Preliminary data: headline rates from official sources and bulletins of international organisations, without reliefs or special rules; being refined.
Calculation for a gross salary of €60,000 per year
| Gross salary | TTD 474,736 ≈ €60,000 |
|---|---|
| Income tax | TTD 94,641 ≈ €11,961 |
| Employee contributions | TTD 8,812 ≈ €1,114 |
| Take-home pay | TTD 371,283 ≈ €46,925 |
| Employer contributions and payroll taxes | TTD 17,623 ≈ €2,227 |
| Employer's labour cost | TTD 492,359 ≈ €62,227 |
Only some of the country's direct taxes and levies are counted: income tax on wages and compulsory contributions. Not counted: property and real-estate taxes; taxes on dividends, interest and other investment income; inheritance and gift taxes; indirect taxes such as VAT, excise and customs duties.
Taxes for sole proprietors and companies
Tax and contributions on the profit for a year; expenses are 10% of revenue, the company pays its profit out to the owner. Reliefs and local taxes are not included.
| Annual revenue | €30,000 TTD 237,368 | €60,000 TTD 474,736 | €120,000 TTD 949,471 |
|---|---|---|---|
| Sole proprietor | TTD 31,337 14.7 % | TTD 84,745 19.8 % | TTD 191,560 22.4 % |
| Company | TTD 64,089 30.0 % | TTD 128,179 30.0 % | TTD 256,357 30.0 % |
Special tax regimes
There are no special regimes for individuals.
Tax residence
The tax residence check does not cover Trinidad & Tobago yet.
Assumptions
- Calculated with the OECD Taxing Wages methodology: income tax including local taxes plus employee social security; single person without children, tax year 2026, ECB rate of 2 January 2026.
- Exchange rate: 1 EUR = 7.912261 TTD (IMF — representative exchange rate for the Trinidad and Tobago dollar (CBTT daily page shows only the last ~10 days, no history), 2026-01-02) ↗
Sources
- Board of Inland Revenue — Self Employed/Sole Trader (rates 25%/30%, business levy)
- Board of Inland Revenue — Deductions and required supporting documents (personal allowance TT$90,000 from 2023)
- Board of Inland Revenue — Corporations
- Board of Inland Revenue — Health Surcharge
- National Insurance Board of T&T — Earnings classes and contributions from 5 January 2026
- Ministry of Finance — Budget Statement 2027 (personal allowance TT$90,000; pensioner increase)
Data checked: 2026-11-08. An indicative calculation for a typical case. Not tax advice.