TTMA IN THE NEWS
TTMA: VAT refund delays damaging members
The T&T Manufacturers’ Association (TTMA) has issued an urgent call for government intervention, warning that chronic delays in Value Added Tax (VAT) refunds are paralysing key sectors of the national economy. While VAT is designed to be a tax-neutral mechanism—where businesses collect revenue for the state and offset it against input costs—the TTMA reports that the system has effectively broken down. For many manufacturers, particularly those in the food and beverage, household products and printing and packaging sectors, the Government’s failure to issue prompt refunds has transformed a neutral tax into a crushing financial burden. In a release issued yesterday, TTMA said recent feedback from its membership indicated that refund delays are no longer measured in weeks, but in years. Read more here
TTMA raises concern over delayed VAT refunds
The Trinidad and Tobago Manufacturers’ Association (TTMA) has raised concern over delayed Value Added Tax refunds and the effect on businesses in several sectors. In a statement, the Association said feedback from members involved in the manufacturing and export of food and beverages, household products, and printing and packaging shows that delays in receiving VAT refunds are affecting operations and finances. The TTMA said VAT is collected by businesses for the state and offset against input VAT, with excess amounts expected to be refunded. However, the Association said refunds are being delayed for more than a year in some cases, with some claims outstanding for several years. The Association said several manufacturers have multiple claims awaiting payment, which it said ties up working capital used for operations and growth. Read more here
NEWS
Local security experts endorse security coalition move
One day after Trinidad and Tobago joined a newly established military alliance led by United States President Donald Trump, known as the Americas Counter-Cartel Coalition, regional security expert Garvin Heerah says being a signatory to this historic event will only reap reward for our country. The agreement was ratified following Trump’s signing of the Doral Charter at the Shield of the Americas summit in Doral, Florida, on Saturday. The agreement means that the United States will train and mobilise partner nation militaries to achieve the most effective fighting force necessary to dismantle cartels and their ability to export violence and pursue intelligence through organised intimidation. Read more here
POLITICS
Chevron wants talks with T&T
Less than 24 hours after Prime Minister Kamla Persad-Bissessar met with United States Energy Secretary Chris Wright, Energy Minister Dr Roodal Moonilal says global energy giant Chevron is already knocking on Trinidad and Tobago’s door. Speaking with Guardian Media during Pandavas’ Phagwa celebrations at Palmiste Park in San Fernando, Moonilal also responded to critics who questioned his absence during the bilateral discussions with Wright, explaining that the Prime Minister attended a meeting of the Heads of Government, where she would have discussed various matters and could not take her entire Cabinet with her. Moonilal said it was not by coincidence that Chevron expressed interest in doing business with T&T just 24 hours after Persad-Bissessar raised “certain very important matters regarding the energy sector” with Wright. Read more here
BUSINESS
Business sector welcomes US security alliance
As Prime Minister Kamla Persad-Bissessar signed the country to a new US-lead anti-cartel coalition on Saturday, business leaders in Trinidad and Tobago largely welcomed the move as a stronger stance on tackling the issue of organised crime. But some cautioned that expanded military operations in the Caribbean should be carefully managed. Read more here
REGIONAL
Washington looks to Guyana to power regional energy future
The United States (U.S.) is looking to deepen its energy partnership with Guyana, as U.S. Secretary of Energy Chris Wright identified the rapidly growing oil producer as a critical partner in the broader strategy for energy production across the Western Hemisphere. In a video posted on the Guyanese Head of State Dr Irfaan Ali’s Facebook page, Wright signalled the U.S’ strong interest in expanding energy production. This video was posted following a Friday evening meeting between Wright and President Ali in Miami. “The Trump administration’s goal is to grow the production of energy and other natural resources right here in the Western Hemisphere. This is our backyard. We want strong partners, strong nations and strong energy production. Guyana is a huge part of this strategy, a very well-governed country with great energy resources that’s starting to produce them…That’s a win for Guyana. That’s a win for the United States. It’s a win for the Western Hemisphere,” he said. Read more here
INTERNATIONAL
G7 nations to hold emergency meeting on oil as stock markets sink
G7 nations will hold an emergency meeting on Monday to discuss surging oil prices as crude jumped above $100 a barrel and stock markets slumped over the escalating US-Israeli war with Iran. Finance ministers from leading industrialised countries, including UK Chancellor Rachel Reeves, will gather to discuss the economic impact of the conflict. Global oil prices reached nearly $120 on Monday over fears of a prolonged disruption to energy supplies through the key Strait of Hormuz shipping route and the UK's FTSE 100 share index fell 1.3%. Read more here
9th March 2026