VAT Calculator Trinidad and Tobago (12.5%)

Besides the 12.5% standard rate, VAT Act Schedule 2 zero-rates a defined list of goods and services. It includes unprocessed food for human consumption, rice, wheat flour, milk, margarine, white and whole wheat bread, baby formula, cheddar cheese, corned beef, toilet paper and brown sugar, along with live food animals, animal feed, seeds, fertilisers and agricultural tractors, and water and sewerage services supplied by a public authority. Legal Notice No. 365 of 15 November 2012 extended zero-rating to over 4,000 further food items by tariff description. The Schedule has been amended many times by Order, so check the current text before relying on a single item.

Schedule 1 exempts, rather than zero-rates, services such as medical, dental, hospital and optical care, bus and taxi services, approved education, real estate brokerage, rental of residential property, hotel accommodation for more than thirty days, postal services, betting and lotteries, and financial services.

A price advertised or quoted without VAT must be accompanied by the tax in money terms, in figures or letters of the same size and prominence as the price (Consumer Protection and Safety Act, Adverse Trade Practices Order, order 7).