Taxes on income, profits and capital gains in Trinidad and Tobago
Trinidad and Tobago: Taxes on income, profits and capital gains was 26.1% in 2019. ▼ Falling
Taxes on income, profits and capital gains in Trinidad and Tobago, 2001–2019
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
The most recent figure for taxes on income, profits and capital gains in Trinidad and Tobago is 26.1%, measured in 2019.
Compared with earlier readings it is down 8.4% on the previous year and down 45.0% over ten years.
Over the whole period, taxes on income, profits and capital gains in Trinidad and Tobago peaked at 64.3% in 2011 and was at its lowest, 22.5%, in 2017.
That places Trinidad and Tobago 67th out of 153 countries with data for 2019, putting it in the middle of the range.
The long-run direction has been consistently falling across the 19 years of available data.
Taxes on income, profits and capital gains in Trinidad and Tobago, year by year
| Year | % of revenue | Change |
|---|---|---|
| 2001 | 35.6% | — |
| 2002 | 26.7% | -25.1% |
| 2003 | 41.1% | +53.9% |
| 2004 | 41.9% | +2.0% |
| 2005 | 51.6% | +23.2% |
| 2006 | 60.3% | +16.8% |
| 2007 | 57.3% | -5.0% |
| 2008 | 62.8% | +9.6% |
| 2009 | 47.5% | -24.4% |
| 2010 | 49.6% | +4.5% |
| 2011 | 64.3% | +29.6% |
| 2012 | 53.0% | -17.6% |
| 2013 | 48.6% | -8.2% |
| 2014 | 48.5% | -0.3% |
| 2015 | 36.6% | -24.4% |
| 2016 | 33.3% | -9.1% |
| 2017 | 22.5% | -32.5% |
| 2018 | 28.5% | +26.8% |
| 2019 | 26.1% | -8.4% |
Trinidad and Tobago compared with similar countries
- Trinidad and Tobago's 26.1% is above the median for high income countries, which is 24.5%, 1.1× the median. (55 countries reporting)
- Trinidad and Tobago's 26.1% is above the median for Latin America & Caribbean, which is 25.4%, 1.0× the median. (24 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 47.2% | 26.7% | 62.8% | 9 |
| 2010s | 41.1% | 22.5% | 64.3% | 10 |
Countries ranked near Trinidad and Tobago
More public sector data for Trinidad and Tobago
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Frequently asked questions
- What is taxes on income, profits and capital gains in Trinidad and Tobago?
- Taxes on income, profits and capital gains in Trinidad and Tobago was 26.1% in 2019, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Trinidad and Tobago?
- The highest recorded value was 64.3% in 2011.
- What is the lowest taxes on income, profits and capital gains recorded in Trinidad and Tobago?
- The lowest recorded value was 22.5% in 2017.
- How does Trinidad and Tobago rank for taxes on income, profits and capital gains?
- Trinidad and Tobago ranks 67th out of 153 countries with data for 2019.
- Is taxes on income, profits and capital gains rising or falling in Trinidad and Tobago?
- Over the last ten years it is down 45.0%. The long-run trend across the full record is falling.
- Where does this Trinidad and Tobago data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.