LIST #3:

The Colossal Rip-off Taxes Citizens Pay

TTJF has now prepared a third list of the specific ways the state make us pay through our nose to support the corrupt and crooked ways of the Government, oligarchs and their friends.

List #1, can be seen under the heading “The One Percenters of T&T” below)

List #2, can be seen under the heading “Secret List #2, The Big Legal Rip Off”, below)

As a prelude to the disgusting list of taxes that most citizens casually accept and never bother to look beyond the surface, we compared with taxes applicable in Florida, a state where thousands of Trinidadians go shopping or order via sky boxes for delivery by air or ocean freight. For example, when you buy a washing machine or stereo, the price is inclusive of 20% duty and 12.5% VAT paid by the importer to the government while this same item is 2.5% duty in the US.  Our nefarious government even adds duties and VAT on paid basic food imports. So the next time a government official tells you that you must pay property tax because it is paid in most countries or we have the cheapest water rates in the hemisphere, you must retort why the hell Trinidadians pay ridiculous taxes on everything else that are not applicable in most countries. 

In our example, we show that T&T are taxed appreciably more than their Florida counterparts while Trinis get appreciably less for those taxes: horrifying roads, poor infrastructure, deplorable crime control, less garbage collection and maintenance, less drainage and dredging, basic education facilities etc but noticeably more bureaucracy. Trinidadians must surely rank as leaders when it’s acceptable to be taxed, abused and lied to. Anyone who says differently are either brainwashed, misguided, uninformed or are the very government officials telling you to part with your hard earned money, and that you are still getting government services on the cheap. The taxes you pay are very much connected to the services you are told to accept by incompetent and corrupt officials. This list of 20 taxes is by no means exhaustive and we invite the public to send in potential additions through our letters page.

Please note that there are many government fees (aka taxes) that are paid to many ministries and government departments that go directly into the consolidated funds, aka the treasure, that are not mentioned here.

1. PAYE (Personal Income Tax - TT 25% (Florida is 0% and Federal is 10% over US $10,000)

2. Corporate Income Tax - TT 30% (Florida is 5.5% - Federal is 21%)

3. NIS Contributions - Based on income level

4. VAT – 12 1/2% (Florida sales tax is 6.5 %, Fed 0%)

5. Duties on Imports, TT Average is 20% (U.S. Average is 5.63% - See www.cargos.com)

6. Online Tax paid on imports using credit cards, TT 7.5% (Florida is 0%)

7. Special Duties on Motor Vehicle Imports – Duty is 47%, MVT on 2,000cc Engine is  $37,500, plus VAT… doubling the price of the car. (Florida is 2.5%)

8. Property Tax (Land & Building) Approx. $1,000 for low end houses.

9. Health Surcharge (taken as deduction on payroll)

10. Business Levy, TT is 0.06% on sales (Florida is 0%)

11. Green Fund Levy automatically deducted (Florida is 0%)

12. Road Gas Tax - Paid at pump (Florida is 0%)

13. Car inspection Fees - paid very 2 years (Florida 0%)

14. Airport and Port Security Fees, included with price of ticket & invisible

15. Stamp Duty on property sales, TT is generally 10%.  (Florida is $0.60 per $100 or less that 1%)  In TT, this is huge money, amounting to hundreds of millions annually.

16. Transfer fee for car sales. 2 year old cars is $6,000. That’s 6% for $100,000 value. (Florida transfer fee is US $75. flat fee or equivalent to $510. TT)

17. Exorbitant police motor vehicle tickets (New massive increases as a revenue earning measure)

18. Special Taxes and Royalties paid by Drilling and Mining companies

19.  Drilling fees paid by oil / Gas Exploration Companies to drill buy rights

20. Tax on Lottery Winnings (initially 10% but must pay over 25% at end of year)