Commingling

Commingling Of Funds

According to Black’s Law Dictionary, ‘commingling’ is defined as, (Of a fiduciary) “to mix personal funds with those of a beneficiary or client.”

Even as a small business, it is important to set up separate accounts for your business and personal needs.

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VAT Registration

As required within the jurisdiction of Trinidad and Tobago, individuals or businesses that makes a gross sales value of TT$500,000 or in excess of TT$500,000 in any 12-month period, MUST register for VAT.

Individuals and businesses whose sales forecast is TT$500,000 or more within any 12-month period, MUST also register.

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