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Friday, May 2, 2025

VAT bonds available

by

94 days ago
20250128
Some of yesterday's news release from the Ministry of Finance

Some of yesterday's news release from the Ministry of Finance

The Min­istry of Fi­nance an­nounced yes­ter­day that busi­ness­es owed out­stand­ing VAT re­funds in ex­cess of $250,000 can now ap­ply to the Board of In­land rev­enue for VAT bonds.

In a news re­lease yes­ter­day, the min­istry said the Board of In­land Rev­enue (BIR) ad­vised that the VAT Bonds would be is­sued on a first come, first serve ba­sis with an ef­fec­tive date of Jan­u­ary 31, 2025 and a tenor of three (3) years.

The BIR said in­ter­est on the VAT bonds from Jan­u­ary 31 and would ac­crue at a fixed rate of 4.01 per cent per an­num. A six-month mora­to­ri­um, start­ing from the date of is­sue, will be im­posed on the en­cash­ment/trans­fer­abil­i­ty of the Bonds for com­pa­nies op­er­at­ing with­in the en­er­gy sec­tor that are ze­ro-rat­ed.

On­ly ap­pli­cants owed re­funds in ex­cess of TT$250,000.00 would be el­i­gi­ble to re­ceive VAT Bonds. Re­funds of TT$250,000.00 or less will be paid in cash.

Ap­pli­ca­tion forms can be ac­cessed by VAT Reg­is­trants on the In­land Rev­enue Di­vi­sion’s (IRD) web­site at www.ird.gov.tt, ac­cord­ing to the news re­lease.


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