Monday, December 18, 2017

Refunds on VAT start in early February


Following the release last month of the Supplemental List of Zero-rated items, the Ministry of Trade has said that the removal of VAT on all items on this Supplemental List came into effect on the same day as the previous Legal Notice dated November 15, 2012.

To the extent that VAT refunds are applicable for the period November 15 to December 24, 2012, only registered businesses can apply for such refunds, the ministry said in a statement.

All VAT refunds for the period of November 15 to December 31, 2012 will commence in early February 2013.

This announcement follows a meeting between the Minister of Trade, Industry and Investment and members of the Board of the Trinidad and Tobago Manufacturers Association (TTMA) on January 11.