In keeping with the Ministry of Finance’s 2023 ‘VAT Bonds’ initiative, the Board of Inland Revenue (BIR) has announced that persons registered for VAT, (VAT Registrants) can now apply for the payment of outstanding VAT refunds, via VAT Bonds.

The BIR further advises that the VAT Bonds would be issued with a three (3) year tenor at a fixed interest rate of 3.15% per annum. It should be noted that only applicants being owed refunds in excess of TT$250,000.00 would be eligible to receive VAT Bonds. Application forms can be accessed by VAT Registrants at the Inland Revenue Division’s (IRD) website at www.ird.gov.tt. These forms must be completed online, before downloading for signature and then scanned and e-mailed to VATBonds@ird.gov.tt.

Refunds of TT$250,000.00 or less will be paid in cash, during the months of May and June 2023.