T&T Joins Convention On Tax Matters

Trinidad and Tobago has joined the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, marking a significant step in international tax cooperation. Minister of Finance Colm Imbert signed the Agreement at the Headquarters of the Organisation for Economic Co-operation and Development (OECD) in Paris on November 7th. This signing brings the total number of jurisdictions participating in the Convention to 149. According to the Ministry of Finance, by signing the Convention, Trinidad and Tobago joins the most extensive international treaty for tax cooperation and information exchange, strengthening the Convention’s presence within the Caribbean. The Convention facilitates various forms of mutual assistance in tax matters: information exchange on request, spontaneous exchange, automatic exchange, tax examinations abroad, simultaneous tax examinations, and assistance in tax collection. It also provides robust safeguards to protect taxpayer rights.