The In­land Rev­enue Di­vi­sion (IRD) yes­ter­day an­nounced that the tax amnesty in­tro­duced by the Fi­nance Act 18 of 2024, ends on Sat­ur­day.

In a state­ment, the Min­istry of Fi­nance said tax amnesty re­turns filed and pay­ments made on Mon­day, Au­gust 4, would be ac­cept­ed.

It said that with re­gard to re­turns filed via the non-logged-in ser­vice, the signed de­c­la­ra­tion forms have to be dropped off at one of the di­vi­sion’s of­fices be­fore the end of the busi­ness day on Mon­day, Au­gust 4.

The min­istry re­mind­ed the pub­lic that the tax amnesty cov­ers penal­ties and in­ter­ests on un­paid tax­es and out­stand­ing re­turns, up to the year of in­come end­ing De­cem­ber 31, 2023.

When con­tact­ed on how much the IRD has been able to col­lect thus far, Min­is­ter of Fi­nance Dav­en­dranath Tan­coo said, “The amnesty is still in ef­fect and will end short­ly. It is there­fore more prac­ti­cal to wait un­til the com­ple­tion of the pe­ri­od to re­port on the rev­enue col­lect­ed.”

In May, Tan­coo an­nounced the ex­ten­sion of the tax and Na­tion­al In­sur­ance amnesty to Au­gust 2.

The tax and Na­tion­al In­sur­ance amnesty was in­tro­duced by the Fi­nance Act, 2024 (with ef­fect from Oc­to­ber 1, 2024, to De­cem­ber 31, 2024).

In this re­gard, the nec­es­sary 0rders to ex­tend time have been pub­lished as Le­gal No­tices No. 211, 212, 213, 214, and 215 of 2025.

For­mer Fi­nance Min­is­ter Colm Im­bert re­vealed that as of Jan­u­ary 27, 2025, the tax amnesty had raised $2.38 bil­lion in rev­enue.

He said that it was then on par with the 2019 tax amnesty, which was the most suc­cess­ful tax amnesty in T&T’s his­to­ry. Giv­en the ex­ten­sion, it will now like­ly ex­ceed the col­lec­tions of 2019.

The tax­es cov­ered by the amnesty in­clude: In­di­vid­ual in­come tax; cor­po­ra­tion tax; Val­ue Added Tax (VAT); pe­tro­le­um prof­its tax (PPT); sup­ple­men­tal pe­tro­le­um tax (SPT); Pay-as-You-Earn (PAYE); with­hold­ing tax; health sur­charge; ho­tel ac­com­mo­da­tion tax; gam­ing amuse­ment tax; busi­ness levy green fund levy; stamp du­ty and in­sur­ance pre­mi­um tax.