Trinidad and Tobago Providing New Tax Amnesty

On 6 July 2021, Trinidad and Tobago's Minister of Finance Colm Imbert presented a statement in the Senate on the Finance Bill 2021. The main measures of the Finance Bill 2021 in relation to taxation are for the introduction of a tax amnesty regime that provides for the waiver of interest and penalties for businesses that have experienced difficulty in paying their taxes on time.

The new amnesty regime is similar to the amnesty regime that was introduced in 2019 and covers taxes due under var…