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Government Confirms $6.54B Owed in VAT Refunds to Businesses

  • Government owes $6.54 billion in VAT refunds to businesses
  • Finance Minister Colm Imbert confirmed the figure in the Senate
  • Opposition senator asked about issuing VAT bonds to those owed
  • Imbert said consideration will be given if deemed appropriate
  • Monthly payments for refunds will be based on government’s cash flow
  • Cabinet approved issuance of $3 billion in VAT bonds last May to settle outstanding refunds


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.


VAT news
VAT news