Tuesday 7 July, 2020

Three-month tax amnesty coming soon, Imbert promises

Government will grant a three-month tax amnesty this year, beginning mid-June.

This, as Finance Minister Colm Imbert in delivering the Mid-Year Budget Review in Parliament on Monday afternoon, said there was no need to impose any additional burdens on citizens.  

He said the measure is being introduced to allow the Revenue Authority to start on a clean slate.

"In this context, in view of the soon to be established Revenue Authority and the need to allow the new entity to start with a clean slate, I wish to announce that there will be a 3-month tax amnesty in this year, starting in mid-June 2019 and extending to mid-September 2019," Imbert said.

He said the amnesty will extend to all forms of taxation and appropriate legislation to give effect to the new measure will be introduced in the Lower House within the coming weeks.

Imbert urged taxpayers to take advantage of the amnesty, file their outstanding returns, and pay their back taxes because once the new Revenue Authority comes on stream, future amnesties are unlikely.

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