Trinidad and Tobago Tax Response to COVID-19

Trinidad and Tobago’s government has made tackling the financial fallout COVID-19 an ongoing priority. The Mortgage Finance and Home Mortgage Bank have allowed payment deferrals for 3 months. Additionally, the Government has asked several institutions to defer rental and mortgage payments for a month, as has of course been the case in other countries.

Trinidad and Tobago has also seen the lowering of interest rates on Credit Cards by amounts ranging from 10% to 17%, this has been done on a bank by bank basis and so is higher in some cases.

There has been an injection of an extra $2.6 billion in increased liquidity into Trinidad & Tobago’s commercial banking system. The government has also pledged the salary relief grant which will assist citizens who have lost their jobs due to COVID-19, they will be given access to $1500 a month over a 3-month period.

As ever GTU is on hand to provide round the clock updates on the latest in Trinidad and Tobago and other countries we cover as government’s across Africa and Latin America continue to respond to Coronavirus.