Government has once again extended its Tax Amnesty for another two months.
"So today we extended the tax amnesty to August 31st, 2023," Finance Minister Colm Imbert said.
Today (June 30th) was the latest extended deadline for the tax amnesty that started in November 2022.
Speaking during a People's National Movement political meeting in St James last evening, Imbert said the Government understood that the pandemic was hard on many, especially small businesses.
"We recognised that when your hand in the lion's mouth you have to do something to get the hand out...So during COVID we recognised that small businesses struggled to pay their statutory obligations, they struggled to pay their national insurance contributions, they struggled to pay their income tax so we have introduced an amnesty which we introduced in November of last year, we extended it several times," Imbert said.
The tax amnesty, originally launched on 14 November 2022, provides relief from penalties and interest on taxes owed up to and including the year ending 31 December 2021.
However, the Minister said while Government was lenient before with the new Procurement Act, companies big or small will have to pay its taxes or make an agreement with the Board of Inland Revenue.
"In the past some people get a bligh, but now if you want to supply goods and services to the government you have to register with the procurement depositary and you have to pay your taxes," he explained.
He said now is the time for companies to "put your house in order" and do their accounts and financial statements, as there may not be another extension.
"Put your house in order, put your house in order," he said.
