History

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Prior to 1942. The Treasury Division administered the Income Tax functions.

  1. Inland Revenue Department was created, as a separate and autonomous department of Government, to administer the Income Tax functions. A Commissioner and a Deputy Commissioner managed the department.

  2. Trinidad was granted internal self-government. The department was then made a division of the Ministry of Finance and renamed Inland Revenue Division. Officers were relocated from Richmond Street to 41 and 47-49 Sackville Street, Port of Spain. (P.O.S).

  3. Mechanisation of tax processing commenced with the introduction of the Hollerith system. This system required the use of punch cards, which were then processed through a reproducer to obtain necessary printouts.

  4. Moved from Sackville Street offices to Trinidad House, St. Vincent Street, P.O.S.

  5. Major changes introduced by Act no. 29 of 1966:

    • Establishment of a Board consisting of three (3) Commissioners;
    • Introduction of Corporation Tax as a separate Tax regime;
    • Introduction of Withholding Tax regime.
  6. Creation of Taxpayers Relations Section – formed to organise programs of tax education and information for members of the public.

  7. Creation of Taxpayer Assistance Section

    Reorganisation of Board along Functional lines.

    Introduction of Computerised processing of Income Tax returns

  8. Introduction of a separate Tax regime for the petroleum industry (Oil Audit).

  9. Introduction of Value Added Tax (VAT).

  10. Introduction of the Petroleum and Large Taxpayer Business Unit.

  11. Introduction of THE CRIMINAL TAX INVESTIGATION UNIT.

  12. Introduction of The Integrated Tax Processing System - Phase 1

  13. Implementation of Phase 2 (April)- The Integrated Tax Processing System

    Implementation of Phase 3 (Nov.)- The Integrated Tax Processing System mainly new returns for e.g. Vat, Insurance, Financial Services