The Trinidad and Tobago Government has announced plans to increase the foreign currency declaration threshold from US$5,000 to US$10,000, effective January 1, 2027.
The measure was outlined by Finance Minister Davendranath Tancoo during his presentation of the 2027 National Budget in Parliament.
Tancoo explained that the existing threshold places a reporting requirement on travellers carrying relatively modest amounts of foreign currency.
He said the Government believes the threshold should be updated to reflect present-day travel and commercial realities.
The proposed increase is intended to reduce unnecessary reporting requirements while allowing Customs authorities to concentrate on higher-risk movements of foreign currency.
The Minister also noted that the US$10,000 threshold is consistent with benchmarks used in several other jurisdictions.
The change concerns the threshold for declaring foreign currency and does not establish a maximum amount that travellers are legally permitted to carry.
The revised threshold is expected to take effect on January 1, 2027.