Sri Lanka vs Trinidad and Tobago
Tax Rate Comparison
Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.
๐ฐ Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country โ side by side.
๐ฑ๐ฐ Sri Lanka โ Provincial & Local Authority Taxes
Sri Lanka's 9 provincial councils have some tax powers including turnover tax, certain business taxes, and stamp duties within their provinces. Local authorities (municipal councils, urban councils, pradeshiya sabhas) levy property tax (Assessment rate) at 25% of annual value and various service fees. The Inland Revenue Department (IRD) administers national taxes. Sri Lanka went through a severe debt crisis in 2022โ23; significant IMF-backed tax reforms dramatically raised income tax rates and broadened the tax base.
๐น๐น Trinidad and Tobago โ Municipal & Regional Corporations
Trinidad and Tobago's 14 regional/municipal corporations (including Port of Spain City Corporation) levy property taxes and business licence fees. T&T is a significant energy producer in the Caribbean โ natural gas and oil revenues are major fiscal pillars. The country uses a Business Levy (0.6% of gross sales as minimum tax) and a Green Fund Levy (0.3%). T&T has the highest per-capita income in the Caribbean and a well-developed financial services sector.
Sri Lanka vs Trinidad and Tobago: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ฑ๐ฐ Sri Lanka has a higher top income tax rate (6โ36% vs 25โ30%). ๐น๐น Trinidad and Tobago is more favourable for high earners.
๐ VAT/Sales Tax: Sri Lanka has a higher consumption tax (18% vs 12.5%).
๐ข Corporate Tax: ๐ฑ๐ฐ Sri Lanka offers a lower corporate rate (30% vs 35%), which can influence business location decisions.
๐ Capital Gains: ๐น๐น Trinidad and Tobago taxes investment gains at a lower rate (0% vs 10%), benefiting investors.