In Trinidad and Tobago, Sole Traders pays the following taxes:

  • Income Tax which is 25% on profit.
  • Health Surcharge which is $429 per year for 52 weeks and $437.25 per year for 53 weeks.  (Only if your employee’s weekly income is more than $109).
  • 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.