(GIS) – The Inland Revenue Department (IRD) has announced that the tax amnesty that began in October 2016 will end in February.
The tax amnesty was established to aid those who were not up to date with their payments, and facilitated the payment of any funds owed.
Kimya Ramlal, the amnesty team leader within the Inland Revenue Department, said the amnesty provides the perfect opportunity for persons to clear their debts.
“The amnesty applies to all tax types, from property tax, corporate tax, personal income tax, motor vehicle tax, even those that do not exist anymore if you still have arrears you have the perfect opportunity right now to clear all of your tax debt,” Mrs. Ramlal said.
“Also take note that this is the best time to clear it off. The amnesty provides a 100 percent penalty discount. You do not pay any penalties and in the last phase you only pay 40 percent of the interest. You cannot get anything better than that. So we are encouraging everyone to come out, pay off their taxes, and only 40 percent of the interest. Once it is paid, we waive everything else on the account for you.”
Mrs Ramlal encourages everyone who owes the IRD to come in and speak to a member of staff, whether or not they are able to meet the amnesty deadline.
“Stretching debt over time is never a good thing, so we encourage everyone to discuss their tax debt with us, and we will make arrangements to settle it as soon as possible.”
The amnesty ends on February 28.