Business chambers happy with tax refund

In light of Finance Minister Colm Imbert’s announcement that tax refunds of $20,000 or less will be given to over 30,000 people during the week, business chambers are relieved.

Imbert said on Saturday the decision was based on requests by the public.

President of the San Juan Business Chamber Jason Roach said in an interview with Newsday on Monday, “The recent announcement of tax refunds is very much welcomed, though we are not comforted in the timing being so close to the local government election.”

He said in a time of economic pinch for businesses he is happy for any initiative that will have positive impacts.

“The business community is hurting and we also hope accelerated VAT (value added tax) returns are refocused."

President of the Couva/Point Lisas Chamber of Commerce Mukesh Ramsingh said tax refunds are always welcome.

“It will be a great help to businesses, who are still in recovery after the pandemic.

"But we don’t like to see only around election time that the minister is deciding to give out refunds. We would like to see it on an ongoing basis, and it should be streamlined in a more frequent manner.”

Ramsingh also urged businesses always to have their paperwork up to date so they are eligible for such refunds.

“Having spoken to a number of business people in and around the area, we must compliment the government for the VAT refunds that have been issued in the past. We see a little improvement on VAT refunds to business people.”

As for the local government elections, Ramsingh said though the chamber refrains from commenting on politics, he wants whoever wins to deal with the flooding problem.

“The corporations need to address the issue of cleaning and clearing the drains. The government has dredged some drains and put certain things in place to help with the flooding, but the local government and the corporations need to address the drains that are causing the backup.”

Roach said the elections are a significant step towards national development.

“With more responsibility being given to local government bodies, one can only expect that the executive government will be more focused, with more time to bring forth better strategies that can impact the country positively. The government – inclusive of both sides of the House – must be commended for the consultations that have brought us to this monumental juncture.”