VAT Payments / Collections

Tags: individual, business, sole traders, hotels, Petroleum Co., Partnerships, pensioners, Employee, self-employed, Banks, Insurance Co., Trinidad House, ARIMA, CIPERO STREET, scarborough

Introduction

Value Added Tax is due and payable within 25 days after the end of the tax period to which it relates.

e.g. Tax Period 1/1/13 – 28/02/13 ---- Tax Due 25/3/13

Application Forms

- VAT Return

Procedure

When making VAT payments registered persons must approach the Cashier with the VAT return showing amount to be paid. Persons making payments should:

  • Proceed to the Counter Clerk with completed VAT Return, then proceed to the Cashier

Our new cash receipting system guarantees faster processing of payments.

Penalty and Interest on late payment of VAT

Where any amount that a person is required to pay to the Board is not paid by the due date, the amount outstanding bears a penalty of eight per cent (8%) of the amount outstanding and interest at the rate of two per cent (2%) per month or part there of from the due date to the day of payment.

Where is it available?

This service is available at the following locations