Overview

Capital
Port of Spain
Currency
Trinidad and Tobago Dollar
Date Format
dd/mm/yyyy

calendar icon Public holidays calendar

Taxes

Employer
8% - NIS
6.23% - Pension Fund
Employee
4% - NIS
3.11% - Pension Fund
25% - All Income Levels

Minimum Wage

General

Minimum wage is TT$15 per hour.

VAT

General

VAT is 12.5% standard rate.

Mandatory Benefits

Pension Fund
 
Social Security
 
Employee: required to contribute 4% of their wages to National Insurance.

Termination

Termination Process

Employers must provide their employees with one months notice.

Advance Notice

Employees must provide two weeks notice in a written resignation letter.

Severance Pay

Employees of 1-5 years are entitled to 2 weeks of pay for every year employed, and every year beyond 5 receives 3 weeks of pay.