Regulatory Alerts2019-01-01
Miscellaneous Provisions (Tax Amnesty, Pensions, National Insurance, Central Bank, Companies and Non-Profit Organisations) Act No. 13 of 2019
The Parliament of Trinidad and Tobago enacted this Act to provide a tax amnesty waiving interest and penalties for taxes and returns due by December 31, 2018, provided they are paid or filed between June 15 and September 15, 2019. The legislation amends several pension and emoluments statutes to include housing allowances in salary definitions and establishes a mechanism for reviewing retiring allowances and pensions every five years for retired legislators, the President, the Prime Minister, and judges. Additionally, the Act modifies the National Insurance Act to allow for new employment categories, grants the Finance Minister expanded information powers regarding the Central Bank's staff and structure, and extends compliance deadlines for companies and non-profit organizations.