The Minister of Finance notes concerns raised by the Daily Express in its editorial “Drowning in VAT bureaucracy” centred around the “tardiness in repaying VAT to companies” and wishes to address the issues raised.Cash flow constraints have resulted in a 1-month delay in completing this exercise, not bureaucracy.
Based on representation and requests made by members of the general public, the Minister of Finance, Hon. Colm Imbert, M.P., recently authorized the Board of Inland Revenue to pay all individual income tax refunds of up to $20,000 or less.
The Honourable Colm Imbert, Minister of Finance, has taken note of information in the public domain regarding the waiver of taxes on computers and wishes to confirm that the required legal orders for the zero-rating for Value Added Tax (VAT) and the remission (waiver) of Online Purchase Tax (OPT) on laptop computers. VAT Order Waiver…
Zero-rated items further explained
Finance Act No 1 of 2016 (2)
Media Release – Update on Adjustments to VAT Regime