On 5 October 2015, Trinidad and Tobago's Minister of Finance Colm Imbert presented the Budget for 2016 to the House of Representatives. The main measures include:
- Increasing the Business Levy rate from 0.2% to 0.6% of gross revenue (payable if greater than the corporate tax liability);
- Increasing the Green fund levy rate from 0.1% to 0.3%;
- Reducing the value added tax (VAT) rate from 15% to 12.5% and increasing the registration threshold from TTD 360,000 to TDD 500,000, while reducing the nu…