Business chambers are welcoming government’s budget announcement regarding VAT refunds and interest-bearing bonds.

In the 2024/25 fiscal package, it was revealed that small and medium enterprises which are owed refunds will be paid in cash by December 31st, 2024.

It also noted that the Finance Ministry intends to issue interest-bearing VAT bonds in the sum of $3 billion with a target date for issuance of January 31st, 2025.

The T&T Chamber of Industry and Commerce expressed its elation in its budget response, noting that these were among its areas of consistent advocacy.

AMCHAM T&T also expressed its gratitude that government has committed to clearing up outstanding VAT refunds.

Both Chambers, however, noted that they remain open to collaborating with government on dealing with the issue of crime.