- The Trinidad and Tobago Manufacturers’ Association (TTMA) is concerned about significant delays in VAT refunds, with some claims outstanding for years.
- These delays are causing cash flow problems, tying up working capital needed for payroll, suppliers, debt servicing, production, and exports.
- Some companies have resorted to loans or overdrafts, increasing their financing costs.
- Uncertainty over refund timelines has led to postponed investments, equipment upgrades, and expansion plans, with some firms reducing production.
- The delays negatively impact exporters, suppliers, and the broader supply chain; TTMA is calling for a more efficient, transparent, and predictable VAT refund process.
Source: guardian.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.
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