Drafting the digital VAT

AI Summary

Trinidad and Tobago’s 2027 budget proposes applying the standard VAT rate to digital services supplied by non-resident companies, including streaming and digital platforms, from March 1, 2027. The measure is projected to raise TT$18 million and is presented as a sound way to tax imported digital services.

The Budget 2027 measures include “[s]tandard-rating digital services provided by non-resident foreign companies (such as streaming and digital platforms)”, effective March 1, 2027, and projected to raise TT$18 million. Bringing imported digital services into the VAT net is sound policy.…