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Trinidad and Tobago, officially the Republic of Trinidad and Tobago, is a twin island country situated off the northern edge of the South American mainland, 11 kilometres (6.8 miles) off the coast of northeastern Venezuela and 130 kilometres (81 miles) south of Grenada. Trinidad and Tobago is one of the wealthiest and most developed nations in ...
When this happens, the old partnership may or may not be dissolved and a new partnership may be created, with a new partnership agreement. For US tax purposes, a technical termination may be caused if more than 50% of the partnership interests change hands in the same (US) tax year. A new partner may buy into the business in three ways:
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Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income.
In 1890, Alston left Trinidad and Tobago and initiated a partnership deal with McGregor Frame (Frame Alston & Co). [1] Frame Alston & Co then succeeded by Alston Arbuthnot & Co were the London agents of the Trinidad company until the death of Alston in 1918. [2] In 1904, a saw mill and a lumber and hardware store was launched.
The head of the ministry is the Minister of Finance and is appointed by the President of Trinidad and Tobago on the advice of the Prime Minister. The incumbent, Mr. Colm Imbert, assumed office on September 11, 2015, and succeeded Mr. Larry Howai following the Trinidad and Tobago general election, 2015.
The ultimate goal is for the APT Tax to fund not only the Federal Government, but also "all state budgets (allowing the elimination of state income, sales, and excise taxes) as well as the public school portion of the local property tax." [21] Dr. Feige claims that the APT tax would be very simple, efficient, and hard to evade.
Trinidad is the larger and more populous of the main islands; Tobago is much smaller, comprising about 6% of the total area and 4% of the entire population which is estimated at 1.3 million (2005). Unlike most of the English-speaking Caribbean, Trinidad and Tobago's economy is primarily industrial with an emphasis on petroleum and petrochemicals.