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Somalia vs Trinidad and Tobago: tax rates compared
Trinidad and Tobago has an income tax rate of 30%, 12pp above Somalia's 18%. The 200-country average is 28%: Somalia sits below it, Trinidad and Tobago sits above it. Somalia's figure is dated 2025-11-01 and Trinidad and Tobago's 2026-06-02, so the two rates come from different data vintages.
Verified data covers three of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | SO | TT | Difference |
|---|---|---|---|
| Income Tax | 18% | 30% | TT +12 pp |
| Corporate Tax | 15% | 30% | TT +15 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Somalia | 18% | Source: Ministry of Finance, Federal Republic of Somalia — Income Tax Manual (for the Income Tax Law 2025 & Income Tax Regulations 2025) · as of 2025-11-01 |
| Trinidad and Tobago | 30% | Source: PWC Worldwide Tax Summaries — Trinidad and Tobago (Individual, Taxes on personal income) · as of 2026-06-02 |
| Difference | −12 pp | Trinidad and Tobago higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Somalia | 15% | 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 | −15 pp | Trinidad and Tobago higher |
Trinidad and Tobago has a corporate tax rate of 30%, 15pp above Somalia's 15%. The 201-country average is 22.6%: Somalia sits below it, Trinidad and Tobago sits above it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Somalia | 0% | Source: Somalia Revenue Directorate — Direct Tax · as of 2026-07-18 |
| 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 |
Somalia and Trinidad and Tobago share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: VAT, Capital Gains Tax, Crypto Tax.