In Trinidad and Tobago, Partnerships pays the following taxes:
- Green Fund Levy .3% on income earned.
- Profits are divided as per the partnership act or whatever agreement made by the said partners.
- Each partner is liable to pay:
- Income Tax of 25% on the profit earned in the partnership.
- Health Surcharge which is $429 per year for 52 weeks and $437.25 per year for 53 weeks.
- Business Levy which is .6% on income earned for the year.
- They are paid every quarter on March 30th, June 30th, September 30th and December 31st.
- NOTE: If you work 8 to 4, you must combine the two incomes earned.