Please be advised that we will be performing maintenance on our website between 9:30 pm on Sat 19th Oct 2019 and Sun 20th Oct 2019. We do apologize for any inconvenience caused. The works are necessary as we continue to improve our services to you. Thank you for your loyalty and patronage.

N Touch
Saturday 19 October 2019
follow us
News

TTMA cautious about VAT plan

THE TT Manufacturers’ Association (TTMA) is expressing concern over the Minister of Finance’s plan to address the VAT issue by proposing an initial $3 billion interest-bearing bond facility. The association said in a media release on Monday, while it is a good initiative it may not be enough to offset the cost of doing business.

“Small to medium entrepreneurs stand to be the most hard-hit, and we are concerned about their survivability in the near-to-medium term.”

The association said the existing housing bond of 4.5 per cent is more attractive to potential financial institutions. It said it would continue to lobby for a VAT net facilitation for entrepreneurs who would need a different solution.

Today's Most Popular
Comments

Reply to "TTMA cautious about VAT plan"

News