- VAT Bond Availability: The Ministry of Finance has announced that taxpayers owed VAT refunds exceeding TTD 250,000 are eligible to apply for three-year VAT bonds with a fixed interest rate of 4.01%, effective January 31, 2025, issued on a first-come, first-served basis.
- Application Process: VAT registrants can access the VAT bond application forms online, requiring specific information such as VAT Account Number and BIR File Number. Applications must be submitted by February 3, 2025, with the option for extension if necessary.
- Eligibility and Conditions: To qualify for VAT bonds, applicants must ensure all VAT returns are filed, tax liabilities cleared, and that the bonds relate to VAT periods prior to 2025. A six-month moratorium on encashment applies to energy sector companies, and bonds will be issued rounded down to the nearest thousand dollars, with any remaining balance paid via cheque.
Source Orbitax
