Outstanding: $5.1 Billion in VAT Refunds

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MINISTER in the Ministry of Finance Brian Manning reveals that $5.1 billion in VAT refunds were still owed to businesses.

He made the announcement in the Upper House on Tuesday in response to a question by Opposition Senator Damian Lyder.


He had asked: “Given the Minister’s May 2023 update on VAT refunds indicated that $7.8 billion was still
outstanding to manufacturers, can the Minister provide an update on the amount still outstanding
as at the end of August 2023?”

Manning replied: “The outstand VAT refunds amounted to $5.1 billion as of August 31, 2023.”

Senator Damian Lyder. Photo: T&T Parliament

Lyder asked if the refunds paid from the outstanding $7.8 billion were from the Consolidated Fund or via government bonds.

Manning said Lyder must asked the question on notice in the prescribed manner to get a response.


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