The Ministry of Finance (Trinidad & Tobago) announced that the Tax Amnesty and National Insurance Scheme (NIS) Amnesty have been extended to 31 March 2025, giving taxpayers additional time to regularise outstanding liabilities. The ministry reported that the tax amnesty had raised 2.38 billion in revenue as of 27 January 2025. The extension was framed in part around public procurement eligibility under the Public Procurement and Disposal of Public Property Act, which requires procuring entities to ensure suppliers and contractors have met tax and contribution obligations, and under which small and medium enterprises (SMEs) that are not up to date may face challenges participating in procurement by ministries, statutory authorities and state enterprises. While relevant procurement regulations allow payment plan agreements and up to six months to settle outstanding tax and national insurance payments, they do not remove the requirement for SMEs to be current, so the extended amnesty period is intended to provide time to address arrears. The release also cited the expectation that the Trinidad and Tobago Revenue Authority will become fully operational in 2025 and that compliance will increase thereafter, positioning the extended amnesty window as an opportunity to settle outstanding taxes before the TTRA is operational.

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