After recent overwhelming response—and long lines of people outside of the Finance Ministry— Government has extended the 2019 Tax Amnesty for two more weeks up to Monday, September 30.
The Finance Ministry confirmed this yesterday via a media statement. The amnesty was to have ended yesterday.
The amnesty was announced by Finance Minister Colm Imbert in his May mid-year review. It waived penalties from June to September 15 on outstanding taxes, outstanding interest and outstanding tax returns applicable to companies, organisations and individuals.
The waiver applied where several taxes are due and payable for the years up to and including the year ending December 31, 2018, and the taxes are paid before/during the period of the Tax Amnesty.
In the last week of the amnesty, however, the response had been huge with long lines of people outside the Ministry's Wrightson Road complex, waiting for hours to pay taxes and avoid penalties.
Yesterday, announcing the extension to month-end, the ministry said after that, there will be no further extensions of the amnesty in 2019.
The amnesty provides for the waiver of interest on all outstanding taxes applicable— but not limited to the following taxes— income tax, corporation tax, petroleum profits tax, supplemental petroleum tax, land and building taxes, green fund levy, business levy, tax on gambling devices, stamp duty, value-added tax, heath surcharge, hotel accommodation tax, financial services tax, insurance premium tax, special tax
The waiver of penalties is applicable and covers: penalties on any tax or outstanding tax or interest for the years up to and including the year ending December 31, 2018, where the outstanding taxes are paid before or during the period of the Tax Amnesty.
It also covers penalties on any outstanding return for the years up to and including the year ending December 31, 2018, where the return is filed before or during the period of the Tax Amnesty.