CHAPTER 75:01 - Inland Revenue Division

CHAPTER 75:02
CORPORATION TAX ACT
AN ACT TO PROVIDE FOR THE TAXATION OF SHORT-TERM
CAPITAL GAINS AND TO MAKE BETTER PROVISIONS FOR THE
TAXATION OF COMPANY PROFITS AND FOR MATTERS
INCIDENTAL THERETO OR CONSEQUENTIAL THEREON. 29 of 1966
(1st January 1966)
Commencement
1. This Act may be cited as the Corporation Tax Act. Short title
2. (1) In this part - Interpretation
"branch or agency" means any factorship, agency, receivership,
branch or management;
"chargeable profits" means the aggregate amount of the profits of
any company specified in section 3 remaining after allowing the
appropriate deductions and exemptions under this Part;
"company" means any body corporate or unincorporated association,
but does not include a partnership;
"corporation tax" or "tax" means the tax charged by section 3;
"distribution" has the meaning assigned to it by section 49 of the
Income Tax Act;
"investment company" has the meaning assigned to that expression
in section 6("new consideration" has in other provisions the same
meaning as in section 49(11) of the Income Tax Act;
“marketing licensee” means a person carrying on marketing business to
whom a marketing licence, within the meaning of regulation 3(1)(h) of the
Petroleum Regulations is issued or to be issued under or in accordance with
the Petroleum Act; Finance Act 1997
"non-resident company" means a company not controlled in
Trinidad and Tobago, whether or not such company is -
(i) incorporated in Trinidad and Tobago, or
(ii) engaged in trade or business or in the pursuit of
professional or vocational activities in Trinidad and
Tobago;
BIR Mac Edition version 91/01 Page 180