BUSINESSES do not have to have up-to-date tax payments to receive Value Added Tax (VAT) bonds from the Government.
This was the announcement made by Minister of Finance Colm Imbert at a virtual news conference on Tuesday.
He made reference to an article in the Guardian in which a businessman claimed that the payment of VAT bonds to businesses would only be made if they have up-to-date tax payments.
Imbert said an accounting firm also omitted a line in a release that may my caused misinterpretation of the government’s position.
He asked that firms quoting the Ministry of Finance to do it verbatim in order to avoid any undue panic in the public domain.
Imbert said, “This is a very sensitive issue. This whole question of money, financial relief being provided by the government at this time, in this difficult period is very, very sensitive.
“People are hyper-sensitive about it. They are not happy, they’re upset.”
Imbert said the paying out of VAT bonds started last week.