The total amount of VAT debt accrued by Island companies has tripled since the start of the pandemic.
As it stands 589 businesses are in arrears totalling £36,880,379, with the figure of non-actionable debt standing just shy of £100 million.
Many businesses fell behind on their VAT payments during covid and have struggled to get back on track.
Despite many calls for a VAT reduction it was recently made clear by the Treasury Minister that the Island could only action a reduction, if Westminster first made the changes:
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