CHAPTER 75:01 - Inland Revenue Division

Income Tax Act Mac 1
Vol. 1
ascertained in accordance with the provisions of this Act) and shall be
included in the return of income to be made by such partner under the
provisions of this Act.
Partnerships
(2)(a)The precedent partner, that is to say, the partner who of the partners
resident in Trinidad and Tobago -
(i) is first named in the agreement of partnership,
(ii) if there be no agreement, is named singly or with precedence to
the other partners in the usual name of the firm, or
(iii) is the precedent acting partner, if the partner named with
precedence is not an acting partner,
shall make and deliver a return of the income of the partnership for any
year, such income being ascertained in accordance with the provisions of
this Act and shall declare therein the names and addresses of the other
partners in the firm together with the amount of the share of the said
income to which each partner was entitled for that year;
*Effective 1 st January 2003
(b) Where no partner is resident in Trinidad and Tobago, the return shall
be made and delivered by the attorney, agent, manager or factor of the
firm resident in Trinidad and Tobago.
(3) Any person who refuses, fails, or neglects to deliver any return
required under this section is guilty of an offence.
PAYMENT OF TAX
79. (1) Subject to this section, every person shall pay to the Board on or before
31st March, 30th June, 30th September and 31st December respectively,
in each year of income, an amount equal to one-quarter of the tax as
estimated by him at the rates set out in Part I of the Third Schedule on his
estimated chargeable income for the year and, on or before 30th April in
the next year, the remainder of the tax, as estimated by him.
Payments of tax by installments
Third Schedule
(2) For the purposes of subsection (1), the estimated chargeable income of
any person for a year of income shall be taken to be the chargeable income
as disclosed in his return, if any, of total income for the preceding year of
income.
BIR Mac Edition 91/01 Page 98