VATupdate

Previous promises: Chaguanas Chamber discusses VAT refunds & recovery

In an interview with Loop News, just days before the Finance Minister is expected to present his statement for the Financial year 2023, President of the Chaguanas Chamber of Industry and Commerce Richie Sookhai explained that a number of businesses opted to not pursue the course.

In his June 12, 2020, supplementary appropriation and mid-year review in the context of the extraordinary circumstances brought about by COVID-19, Finance Minister Colm Imbert announced the initial payment, in cash, of VAT refunds of $250,000 or less totaling approximately $260 million followed by the payment, in cash, of VAT refunds between $250,000 and $500,000 amounting to a further $200 million.

Source: loopnews

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