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HMRC internal manual

Double Taxation Relief Manual

Trinidad & Tobago: Underlying Tax

Documents needed to support the underlying tax claim

The accounts showing the profit out of which the dividend was paid and the notice of assessment showing the final tax liability on those profits, if available, otherwise a copy of the tax computation will be required by the Underlying Tax Group.

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(2) Reserves

Transfers of 10% of the net annual profit reduce relevant profits of commercial banks until the credit of the reserve fund is equal to the capital of the bank.

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(3) Spared tax

See DT18906.

A copy of the calculation of tax spared as prepared by the Trinidad & Tobago company’s accountants and a copy of the certificate granting tax relief should be sent to the Underlying Tax Group with the other requested documents.