TTMA Urges Government Action as Delayed VAT Refunds Threaten Key Sectors and Economic Stability

• The TTMA warns that chronic delays in VAT refunds are severely harming key sectors of Trinidad and Tobago’s economy.
• Delayed refunds have turned VAT from a neutral tax into a significant financial burden, especially for manufacturers.
• Businesses face cash flow problems, increased borrowing, postponed investments, operational cutbacks, export challenges, and negative supply chain effects due to these delays.
• The lack of predictable timelines and poor communication from the government further undermine business confidence and financial planning.
• The TTMA calls for a complete overhaul of the VAT refund process to restore efficiency, transparency, and economic stability.

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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