Finance Minister Colm Imbert said in last week’s mid-year review that the Government would be repaying VAT refunds up to $250,000 in cash and $3 billion via bonds.
While this would give SMEs room to breathe, he did not tell the whole truth to the population of this continuing scheme of issuing bonds to pay VAT refunds. This is not the way to improve tax efficiency and would signal that the Government is either out of money or using cash for wasteful spending.
Source: newsday.co.tt
Latest Posts in "Trinidad and Tobago"
- Trinidad and Tobago Proposes VAT on Non-Resident Digital Services
- Trinidad and Tobago Budget 2027: VAT Reform on Digital Services and Compliance
- Trinidad and Tobago’s Digital VAT Plan Faces GATS and Drafting Challenges
- Trinidad and Tobago to Tax Foreign Digital Services with New VAT System
- Trinidad and Tobago to Tax Non-Resident Digital Services from 2027
