Utilise tax amnesty

 

Barbadians owing taxes to the State are being encouraged to take advantage of the tax amnesty which is currently in effect.
 
Senior Manager, Policy Planning and Governance at the Barbados Revenue Authority (BRA), Anthony Gittens said that the tax amnesty which started on September 15, 2016 runs until February 15, 2017, and is open to anyone owning across the tax categories of Land Tax, Income and Corporation Taxes as well as Value Added Tax (VAT). His comments came as he was speaking at a recent meeting hosted by the BRA and the Barbados Investment and Development Corporation for manufacturers to discuss the implementation of the National Social Responsibility Levy.
 
“You can pay in a lump sum or you can pay by instalments. If you have returns that have not be filed you can file the returns and once there is a tax payable you will also benefit from the amnesty. The amnesty grants a hundred per cent waiver of the penalty and interest charged once the full tax is paid by February 15th,” he said.
 
Gittens explained that to apply for the amnesty persons will have to fill out an application form, which is available from the Customer Service departments at the BRA offices at the Treasury Building, the Weymouth Corporate Centre or Warrens Tower II. This form, he said, will allow the BRA to know those who are desirous of signing up for the amnesty, and help to better facilitate them.
 
The amnesty was announced last month by Minister of Finance and Economic Affairs, Christopher Sinckler during his presentation of the Financial Statement and Budgetary Proposals in the House of Assembly. At that time he urged persons to utilise the amnesty as it would be the last one for some time to come. The Minister also told the Lower House then that outstanding taxes were in the region of $568 million and based on past experiences it is expected that an amount of at least $15 million may be collectable for the current financial year 2016/2017.  (JRT)

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