Trinidad and Tobago - Accounting
Trinidad & Tobago fiscal localization: IFRS CoA, 12.5% VAT, BIR Form 401, Green Fund & Business Levy, clean invoicing
Trinidad and Tobago – Accounting
Fiscal localization for Odoo 19 · Chart of Accounts, 12.5% VAT, BIR Form 401 and the quarterly levies
What it gives you
6-Digit Chart of Accounts
An IFRS-aligned chart built for T&T commercial practice, with separate accounts for output VAT, input VAT, customs import VAT clearing, withholding tax, Green Fund Levy and Business Levy.
Statutory Tax Engine
12.5% standard VAT, zero-rated and exempt supplies, Customs Import VAT and 15% withholding tax — each posting to its own statutory account and tagged to the right Form 401 box.
BIR Form 401
The bi-monthly VAT return, Boxes 1 to 11, computed from the tax tags on your posted entries and reconciling to Net VAT Payable or Refundable.
Green Fund & Business Levy
A quarterly report computing the 0.3% Green Fund Levy and the 0.6% Business Levy on gross sales and receipts, with a manual adjustment line for items outside the VAT records.
Clean Customer Invoices
Zero-rated and exempt lines print without 0% badges or
$0.00 VAT rows, while the general ledger and the tax
return keep the full audit trail.
Fiscal Positions & Cash
Domestic, CARICOM, International and Diplomatic positions with Odoo 19 tax mapping, plus Central Bank 5-cent cash rounding and the polymer note and coin denominations for Point of Sale.
Already trading on Odoo?
A company whose chart pre-dates this localization can provision the statutory taxes from Settings → Companies → Sync T&T Taxes. The action is additive: it never renames, re-rates or unarchives a tax you already use, never overwrites an account that is already set, and reports anything it could not resolve rather than guessing.
Green Fund and Business Levy are not transaction taxes. They are levied on the company’s gross sales or receipts for the quarter and remitted with the corporation tax return, so this module reports them for provisioning by journal entry and never charges them to a customer on an invoice.
Wagos Limited · wagos.com · LGPL-3