CCIC Urges Government to Prioritize VAT Refunds and Combat Extortion for Business Owners

• The Chaguanas Chamber of Industry and Commerce is urging the government to prioritize processing VAT refunds owed to businesses
• Further delays in paying refunds could harm cash flow and trust for business owners
• The chamber suggests implementing a 90-day time frame for processing payments
• Allowing businesses to offset outstanding taxes with VAT refunds could streamline tax administration and reduce delays
• The Chamber also calls for addressing crime and extortion, suggesting improved intelligence operations and community-police relationships.

Source: tt.loopnews.com

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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