LY · AfricaTT · Americas
Libya vs Trinidad and Tobago: tax rates compared
Trinidad and Tobago's income tax rate is 20pp higher than Libya's (30% vs 10%). The 200-country average is 28%: Libya sits below it, Trinidad and Tobago sits above it.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | LY | TT | Difference |
|---|---|---|---|
| Income Tax | 10% | 30% | TT +20 pplargest gap |
| Corporate Tax | 20% | 30% | TT +10 pp |
| VAT | 0% | 12.5% | TT +12.5 pp |
| Capital Gains Tax | 0% | 0% | match |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Libya | 10% | Source: PWC Worldwide Tax Summaries — Libya (Individual, Taxes on personal income) · as of 2026-05-31 |
| Trinidad and Tobago | 30% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Individual, Taxes on personal income) · as of 2026-06-02 |
| Difference | −20 pp | Trinidad and Tobago higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Libya | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Trinidad and Tobago | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | Trinidad and Tobago higher |
Trinidad and Tobago's corporate tax rate is 10pp higher than Libya's (30% vs 20%). The 201-country average is 22.6%: Libya sits below it, Trinidad and Tobago sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Libya | 0% | Source: PWC Worldwide Tax Summaries — Libya (Corporate, Other taxes) · as of 2026-05-31 |
| Trinidad and Tobago | 12.5% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Corporate, Other taxes) · as of 2026-06-02 |
| Difference | −12.5 pp | Trinidad and Tobago higher |
Trinidad and Tobago's VAT rate is 12.5pp higher than Libya's (12.5% vs 0%). The 181-country average is 15%: both sit below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Libya | 0% | Source: PWC Worldwide Tax Summaries — Libya (Individual, Taxes on personal income) · as of 2026-05-31 |
| Trinidad and Tobago | 0% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Individual, Income determination) · as of 2026-06-02 |
| Difference | 0 pp | displayed rates match |
Libya's capital gains tax rate is identical to Trinidad and Tobago's — both sit at 0%. The 175-country average is 10.3%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Libya | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-05-31 |
| Trinidad and Tobago | 0% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Individual, Other taxes) · as of 2026-06-02 |
| Difference | 0 pp | displayed rates match |
Libya's wealth tax rate is identical to Trinidad and Tobago's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.