Taxes on income, profits and capital gains in Trinidad and Tobago
Trinidad and Tobago: Taxes on income, profits and capital gains was 37.8% 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 total taxes.
Analysis
The most recent figure for taxes on income, profits and capital gains in Trinidad and Tobago is 37.8%, measured in 2019.
That represents a change of down 10.9% on the previous year and down 37.7% over ten years.
Over the whole period, taxes on income, profits and capital gains in Trinidad and Tobago peaked at 72.3% in 2011 and was at its lowest, 34.0%, in 2002.
That places Trinidad and Tobago 77th 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 total taxes | Change |
|---|---|---|
| 2001 | 43.7% | — |
| 2002 | 34.0% | -22.4% |
| 2003 | 49.4% | +45.5% |
| 2004 | 49.8% | +0.7% |
| 2005 | 60.0% | +20.6% |
| 2006 | 69.3% | +15.5% |
| 2007 | 67.1% | -3.2% |
| 2008 | 71.7% | +6.8% |
| 2009 | 60.7% | -15.3% |
| 2010 | 62.2% | +2.5% |
| 2011 | 72.3% | +16.2% |
| 2012 | 63.5% | -12.2% |
| 2013 | 61.2% | -3.7% |
| 2014 | 63.7% | +4.2% |
| 2015 | 53.3% | -16.4% |
| 2016 | 48.6% | -8.7% |
| 2017 | 35.3% | -27.5% |
| 2018 | 42.4% | +20.2% |
| 2019 | 37.8% | -10.9% |
Trinidad and Tobago compared with similar countries
- Trinidad and Tobago's 37.8% is below the median for high income countries, which is 43.9%, 86% of the median. (55 countries reporting)
- Trinidad and Tobago's 37.8% is above the median for Latin America & Caribbean, which is 36.0%, 1.0× the median. (24 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 56.2% | 34.0% | 71.7% | 9 |
| 2010s | 54.0% | 35.3% | 72.3% | 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 37.8% 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 72.3% in 2011.
- What is the lowest taxes on income, profits and capital gains recorded in Trinidad and Tobago?
- The lowest recorded value was 34.0% in 2002.
- How does Trinidad and Tobago rank for taxes on income, profits and capital gains?
- Trinidad and Tobago ranks 77th 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 37.7%. 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 total taxes). 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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.