The Trinidad and Tobago Ministry of Finance has presented the Finance Bill, 2026 in a second-reading speech to the House of Representatives, setting out a package of pension, tax, energy, compliance and administrative measures. The bill would exempt income from approved deferred annuity plans and approved pension fund plans from income tax with effect from Jan. 1, 2026, including plans approved before, on or after that date. It also would let eligible Prison Service, Police Service and Fire Service officers who acted in a higher office for at least one year but less than three years immediately before compulsory retirement, or before annual leave preceding compulsory retirement, have pension, gratuity or other allowances calculated as if they had been substantively appointed to that office. On tax and investment measures, the bill would allow deductions for bona fide contributions to funds established under section 43 of the Exchequer and Audit Act, capped for individuals at 20 percent of total income or TTD 20,000, whichever is lower, and for companies at 15 percent of chargeable profits or TTD 100,000, whichever is lower. It would introduce a targeted regime for marginal marine gas fields defined as offshore shallow-water fields with recoverable gas 2C contingent resources of 300 billion cubic feet or less, a standalone internal rate of return below 15 percent, production starting after Jan. 1, 2026, and certification by the energy minister. Those fields would face an 8 percent royalty on net natural gas won and saved and qualify for an allowance of 20 percent a year of 130 percent of qualifying expenditure over five years. The bill also would revise tax administration and sectoral rules. For the landlord business surcharge, it sets a one-time TTD 2,500 registration fee per landlord regardless of the number of rented premises, removes quarterly returns, aligns payment dates with quarterly income tax periods and grants a credit against annual income tax liability up to the full amount of surcharge paid. Gaming amendments would reduce annual tax to TTD 12,500 for amusement games other than electronic roulette devices and to TTD 120,000 for roulette devices, allow up to 33 amusement games on certain licensed premises, move the tax to equal quarterly payments and provide refunds for overpayments in the April 1, 2026 to June 30, 2026 transitional period. Other clauses increase fines under a range of existing laws, permit electronic filings and late trust registration across the Registrar General framework, allow voluntary strike-off for companies and partnerships, and prohibit imports of goods produced wholly or partly by forced labour when designated by the minister responsible for trade.

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