- Finance Minister Colm Imbert assures VAT refunds in cash to small and medium-sized enterprises will be completed by the end of the week
- Imbert stated that $558 million in VAT refunds had been printed in cheques up to January 24
- VAT bonds totaling $3 billion will be issued next week with more VAT refunds in cash to come
- Cash flow issues caused a delay in VAT refunds due to lower than expected revenue from oil and gas production
- The government had to prioritize expenditure, resulting in delays in VAT refunds
- President of the Chaguanas Chamber of Commerce, Baldath Maharaj, welcomed the VAT refunds but expressed concerns about delays in payment
- Maharaj believes that VAT refunds should be paid promptly in cash to support businesses and foster economic growth
- He urged the government to adopt more sustainable and transparent approaches to paying VAT refunds to ensure economic stability in Trinidad and Tobago.
Source: newsday.co.tt
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
