Trinidad and Tobago -- Together We Aspire, Together We Achieve
The Caribbean's richest economy -- powerhouse in oil, gas, and finance -- deserves an ERP that understands its complexity: BIR, VAT 12.5%, NIS, HSF, Green Fund, and IFRS.
Request Free DemoThe Caribbean's Richest Economy
Trinidad and Tobago is the highest-income economy in the Caribbean on a per-capita basis, with GDP driven by oil, liquefied natural gas (LNG), and petrochemicals. With 1.4 million people and vast natural gas reserves, T&T is the Western Hemisphere's largest LNG exporter and an important financial and manufacturing hub in the Caribbean.
T&T's tax system is administered by the BIR (Board of Inland Revenue), with a 12.5% VAT and multiple payroll contributions: NIS (national insurance), HSF (health surcharge), Green Fund Levy (environmental fund), and PAYE. The petroleum sector has its own tax regime under the Petroleum Taxes Act.
cifraHQ, made in Panama -- also an energy, financial, and services hub -- delivers full BIR compliance, all T&T payroll funds, and the IFRS standards adopted across the country.
The Caribbean's economic powerhouse
BIR, VAT, NIS, HSF, Green Fund, and IFRS
Our Philosophy
cifraHQ was born in Panama -- also an energy, financial, and services hub -- with the mission of bringing world-class ERP to the entire Caribbean. We understand T&T's complexity: a dual economy combining the dynamism of the energy sector with the sophistication of financial services.
"A nation that aspires and achieves together also deserves software that accompanies every business ambition. -- The cifraHQ philosophy"
BIR, VAT, NIS, and Green Fund
Value Added Tax at 12.5% on taxable goods and services. Bimonthly BIR returns with handling of exempt supplies (basic food, health), zero-rated supplies (exports), and mandatory VAT registration above TTD $500,000.
NIS (National Insurance): employer 8%, employee 4% on wages up to TTD $13,600/month. HSF (Health Surcharge): employer $8.25/week, employee $4.80/week. Monthly contributions to BIR.
Green Fund Levy: 0.1% on gross revenues of all companies in T&T. Business Levy: 0.6% on gross revenues, creditable against Corporation Tax. Quarterly filing with BIR.
ERP for the pillars of Trinidad and Tobago's economy
Upstream, midstream, downstream: projects, royalties, NGAL.
Ammonia, methanol, urea: production, exports, IFRS.
Food, beverages, paints: MRP, traceability, job costing.
IFC, banks, insurance: IFRS, multi-currency, audit trails.
Supermarkets, distributors: POS, automatic VAT.
Hotels, ecotourism, restaurants: POS, reservations.
Oil & gas and housing projects: costs, contracts.
Oil & gas consulting, legal, accounting: time, projects.
The ERP that understands T&T's dual economy
Specialised modules for oil & gas: upstream projects, service contracts, royalties, Petroleum Taxes Act compliance, and multi-currency TTD/USD extraction cost tracking.
NIS + HSF + Green Fund + PAYE calculated automatically every payroll cycle -- four obligations with no manual calculations, monthly and bimonthly filings with BIR.
T&T adopted IFRS. cifraHQ generates reports under IFRS 6 (mineral resource exploration), IFRS 15 (revenue from contracts), and IFRS 16 (drilling equipment leases).
Trinidad as a services hub for the Caribbean: a multi-company ERP for operations in T&T, Jamaica, Barbados, and all of CARICOM with automatic consolidation.
cifraHQ ERP in Trinidad and Tobago
"Made in Panama. For Trinidad and Tobago and the Americas."
Discover how cifraHQ simplifies BIR, VAT, NIS/HSF, Green Fund, and IFRS in Trinidad and Tobago.
cifraHQ is available across the Americas. Explore the local-compliance pages for nearby markets.
