Inland Revenue Departments institutes tax amnesty
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Wednesday, 11 June 2008 – The Inland Revenue Department has instituted a tax amnesty period for persons and corporations whose taxes are in arrears. The amnesty, which was first announced by Prime Minister Honourable Stephenson King in his 2008/2009 budget presentation, will run for a two-year period.
Assistant Comptroller with responsibility for collections Delores St. Catherine, says the tax amnesty will enable tax offenders to settle all outstanding taxes.
“The amnesty runs from the 1st of April 2008 to the 31st of March 2010. It will be granting individuals and corporations waivers of penalties of 100 percent and interest of a maximum of 70 percent shall also be waived,” St. Catherine said.
She encouraged those with tax arrears to take advantage of the amnesty period and to settle within the period given.
“Basically what they would do is meet with us, seat with us, and we will give them a plan that will help them meet their commitments taking into consideration the penalties and interest waivers that we will be offering them, so that over a period of time they will clear their debt with the department,” she said.
The department has advised persons and corporations who are unsure of any arrears, indebted to the department or by how much, to contact its offices at (758) 486-4700. |
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