D’Bocas, a longstanding restaurant in downtown Port of Spain, has closed its doors after 37 years of operation due to declining sales, rising taxes, and post-pandemic pressure. This closure has brought to light the invisible business tax many business owners in Trinidad face. Beyond the official taxes and fees, local businesses are burdened with survival costs such as security, delays, power uncertainty, paperwork fatigue, foreign exchange stress, and crime insurance. Furthermore, new and rebranded government charges, which don’t always appear as taxes, add to the financial strain. The post-pandemic reality has only exacerbated these issues, with operating costs increasing while consumer spending has not recovered evenly. This has led to a growing trend of businesses not failing, but choosing to close, relocate, or pivot to something smaller and safer. The situation calls for an honest discussion about the true cost of doing business in Trinidad and Tobago, beyond just the official taxes and fees.
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