Trinidad and Tobago vs Venezuela
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
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๐น๐น Trinidad and Tobago โ Municipal & Regional Corporations
Trinidad and Tobago's 14 regional/municipal corporations (including Port of Spain City Corporation) levy property taxes and business licence fees. T&T is a significant energy producer in the Caribbean โ natural gas and oil revenues are major fiscal pillars. The country uses a Business Levy (0.6% of gross sales as minimum tax) and a Green Fund Levy (0.3%). T&T has the highest per-capita income in the Caribbean and a well-developed financial services sector.
๐ป๐ช Venezuela โ Municipal & State Taxes
Venezuela's 23 states and Caracas Capital District have constitutionally defined taxing powers. States levy taxes on minerals, hydrocarbons (petrรณleo royalties), and salinas. Municipalities levy the Impuesto sobre Actividades Econรณmicas (IAE) โ a gross receipts tax โ at 0.5%โ10% on businesses, varying dramatically by municipality. The SENIAT (tax authority) administers national taxes. Hyperinflation (2017โ2021) destroyed the bolรญvar and most formal taxation. Dollarization and new strong bolรญvar (VES) partially stabilized the system. Significant informal economy.
Trinidad and Tobago vs Venezuela: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ป๐ช Venezuela has a higher top income tax rate (25โ30% vs 6โ34%). ๐น๐น Trinidad and Tobago is more favourable for high earners.
๐ VAT/Sales Tax: Venezuela has a higher consumption tax (12.5% vs 16%).
๐ข Corporate Tax: ๐ป๐ช Venezuela offers a lower corporate rate (34% vs 35%), which can influence business location decisions.
๐ Capital Gains: ๐น๐น Trinidad and Tobago taxes investment gains at a lower rate (0% vs 34%), benefiting investors.