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Trinidad and Tobago Tax Information

12.5% VAT

VAT is 12.5%. Registration required above TTD 500,000 turnover. BIR registration mandatory.

Freelancer Services to Invoice

  • Hourly consulting
  • Project-based work
  • Retainer agreements
  • Milestone billing
  • Rush/priority fees

Invoice Requirements in Trinidad and Tobago

BIR number
VAT registration
Client details
Invoice number
VAT (12.5%)
Total in TTD

Payment Terms

Net 14 or Net 30 is standard. Consider 25-50% deposits for larger projects.

CashNet 14Net 30Net 45

Payment Methods in Trinidad and Tobago

Bank TransferRepublic BankFirst CitizensCredit CardCash

Freelancer Invoice Tips

  • Always use a unique invoice number
  • Clearly state payment terms upfront
  • Include detailed breakdown of work
  • Add late payment fees
  • Keep copies for tax purposes

Frequently Asked Questions

What tax rate applies to freelancer invoices in Trinidad and Tobago?

Trinidad and Tobago has 12.5% VAT. VAT is 12.5%. Registration required above TTD 500,000 turnover. BIR registration mandatory.

What payment methods are common for freelancers in Trinidad and Tobago?

Common payment methods in Trinidad and Tobago include: Bank Transfer, Republic Bank, First Citizens, Credit Card, Cash. Net 14 or Net 30 is standard. Consider 25-50% deposits for larger projects.

What should freelancer invoices include in Trinidad and Tobago?

Your invoice should include: BIR number, VAT registration, Client details, Invoice number. For freelancer services specifically, also include: Hourly consulting, Project-based work, Retainer agreements.

How do I invoice for hourly freelance work?

List each task with hours worked and hourly rate. Include dates and detailed descriptions.

Should I charge a deposit as a freelancer?

Yes, especially for larger projects. A 25-50% deposit protects you from non-payment.

What is Trinidad's VAT rate?

Trinidad and Tobago applies 12.5% VAT on most goods and services. Basic food items and some services are zero-rated.