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A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax .
The "reverse charge mechanism" now requires that the customer, rather than the supplier, account for VAT on the supply. [19] [20] In 2010, the reverse charge mechanism was extended to services in order to combat MTIC fraud in the carbon market. This means that the reverse charge applies to transactions in emissions allowances. [9]
Goods and services tax or GST (French: Taxe sur les produits et services - TPS) / Harmonized sales tax or HST (French: Taxe de vente harmonisée - TVH), a value-added tax levied by the federal government. The GST applies nationally.
Name Location (Region/municipality) Caigual: Sangre Grande region: Calcutta Settlement: Couva–Tabaquite–Talparo: Calder Hall: Tobago: California: Couva–Tabaquite–Talparo
Trinidad and Tobago, [a] officially the Republic of Trinidad and Tobago, is the southernmost island country in the Caribbean.Comprising the main islands of Trinidad and Tobago, along with numerous smaller islands, it is located 11 kilometres (6 nautical miles) northeast off the coast of Venezuela, 130 kilometres (70 nautical miles) south of Grenada, and west of Barbados.
It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the UK. [2] The default VAT rate is the standard rate, 20% since 4 January 2011.
Petrotrin operated Trinidad and Tobago's single petroleum refinery, located at Pointe-à-Pierre, just north of the city of San Fernando, popularly known as the Pointe-a-Pierre Refinery. The refinery produced liquid petroleum gases, unleaded motor gasoline, avjet/kerosene, diesel/heating oil, fuel oil and aviation gasoline among other products.
The Trinidad and Tobago Bureau of Standards (TTBS) the International Organization for Standards member body of Trinidad and Tobago. [1] Founded on July 8, 1974, the organization is responsible for establishing and maintaining the quality of all goods in the country, excluding medicine, food, and cosmetics, which are the responsibility of the Chemistry, Food and Drug Division of the Ministry of ...