TTMA IN THE NEWS
VAT refunds still a problem, manufacturers say
Delayed value-added tax (VAT) refunds continue to tie up manufacturers’ cash flow, limiting their ability to invest in equipment, expand production and strengthen export capacity, the Trinidad and Tobago Manufacturers’ Association (TTMA) has warned. At its post-budget forum at the Hyatt Regency Trinidad yesterday, the TTMA examined the implications of the Government’s fiscal measures on local businesses. Finance Minister Davendranath Tancoo, who was the featured speaker at the forum, did not attend, with TTMA president Emil Ramkissoon explaining that other critical national issues had arisen. Read more here
Business chambers welcome budget measures, call for action
As T&T’s business community assesses the 2027 Budget, a common message is emerging from leading private sector organisations: the measures announced must address many longstanding concerns, but their success will ultimately depend on implementation. Business leaders said the budget contains several encouraging initiatives; however, they cautioned that tangible results, rather than policy announcements, would determine whether the measures strengthen economic growth and improve the business environment. The American Chamber of Commerce of T&T (Amcham T&T) and the T&T Manufacturers’ Association (TTMA) welcomed aspects of the budget while stressing the importance of execution. Read more here
TTMA wants timely VAT refunds: ‘It’s not a favour’
VAT refunds are “not a favour”, president of the Trinidad and Tobago Manufacturers’ Association (TTMA) Emil Ramkissoon has said. Speaking at the TTMA’s annual post-budget discussion at the Hyatt Regency (Trinidad), Port of Spain, yesterday, he said, “A VAT refund is not a favour to a manufacturer. It is money that belongs to the business.” He emphasised that delayed funds left the company’s cash flow. Read more here
TTMA Looks To Sustain Growth In Non-Energy Manufacturing
TTMA President Emil Ramkissoon identified several measures in the national budget that the organisation believes could improve efficiency within the business environment. “Firstly, mandatory e-filing through the Board of Inland Revenues Gen Tax System, the integrated tax processing system upgrade, and thirdly, stronger tax customs information exchange.” Additionally, the TTMA welcomed the 25% reduction in excise tax on locally produced and imported alcoholic beverages. While the Association had hoped for the reinstatement of an export booster initiative under Global TT to provide its members with grants for machinery, Professor Roger Hosein proposed ongoing dialogue between the Government and the Association to identify further solutions, underscoring the need for economic diversification. Read more here
https://www.ttt.live/ttma-looks-to-sustain-growth-in-non-energy-manufacturing/
https://trinidadexpress.com/news/local/ttma-wants-timely-vat-refunds-it-s-not-a-favour/article_dc24e83f-17dc-414c-846e-81b12c3d8c54.html
https://www.guardian.co.tt/business/business-chambers-welcome-budget-measures-call-for-action-6.2.2687942.15ed16c660
https://www.guardian.co.tt/business/vat-refunds-still-a-problem-manufacturers-say-6.2.2688661.7562acc328
NEWS
Experts: Digital VAT could raise revenue but hit consumers
Foreign digital services could provide Trinidad and Tobago with an additional source of revenue and improve competition for local businesses, but consumers are likely to bear at least part of the cost through higher subscription fees, experts say. The measure was announced by Finance Minister Davendranath Tancoo in Monday’s 2027 Budget presentation. It is expected to generate $18 million annually and take effect on March 1, 2027. Professional services firms EY and PwC have called for greater clarity on the Government’s plan to tax digital services supplied by foreign companies, including which services will be covered, how the tax will be collected and whether businesses could face additional costs. Read more here
POLITICS
Kamla: THA got more than ever
Tobago receives significantly more financial support from the central government than is reflected in its annual budgetary allocation, Prime Minister Kamla Persad-Bissessar said yesterday. Persad-Bissessar said hundreds of millions of dollars in additional expenditure, including a $300 million loan refinancing arrangement, security infrastructure, health care, social grants and other investments, were funded directly by the central government and did not appear in the Tobago House of Assembly’s (THA) annual allocation. Read more here
BUSINESS
Budget success hinges on execution and policy clarity
The Bankers Association of Trinidad and Tobago (BATT) has called for a clearer long-term vision for sustainable economic growth, saying the measures outlined in the 2026/2027 national budget will depend on effective implementation to deliver meaningful benefits. In its response to the budget presented by Finance Minister Davendranath Tancoo on Monday, BATT acknowledged measures aimed at improving revenue collection, expanding public-sector digitalisation and strengthening the business environment, but said greater policy clarity was needed to assess their likely impact. Read more here
REGIONAL
More than 6,500 SMEs register with Small Business Bureau in six years
More than 6,500 small and medium-sized enterprises (SMEs) have registered with Guyana’s Small Business Bureau (SBB) over the past six years, Minister of Tourism, Industry and Commerce Susan Rodrigues has said. Speaking at the Guyana Manufacturing and Services Association (GMSA) Business Luncheon, on Tuesday, Rodrigues disclosed that approximately 6,511 new SMEs had registered with the Bureau during that period. She said the government’s support was aimed not only at helping people establish businesses, but also at making them sustainable. Read more here
INTERNATIONAL
Starlink restrictions affecting Ukraine's front line operations, Kyiv says
Speed restrictions on the key Starlink communications network have disrupted Ukraine's battlefield "missions", President Volodymyr Zelensky's adviser has warned. Serhiy Beskrestnov said Ukrainian troops had not been informed about the speed limits set overnight at 100mph (160km/h) by Elon Musk's SpaceX company. A source in the Ukrainian defence ministry later confirmed this to the BBC. Read more here
14th October 2026