The Inland Revenue Department (IRD) is urging taxpayers to take advantage of an amnesty which runs until February 28, 2018.
The IRD’s Lesley Ann Modeste who is attached to the Customer Service Unit, explained that all persons with arrears on any type of tax received a 100 percent waiver of interest and penalty.
But she explained that because the amnesty is currently into its second phase, the 100 percent waiver of the penalty is still in place, but the waiver for the interest is now at 80 percent.
She asserted that 80 percent was still a large sum, so that defaulters are now required to pay the original tax due and 20 percent of the interest which would have been incurred at the time.
“What we find is that persons file their returns and they never turn back to Inland Revenue to determine what is the outcome. So we encourage everybody to come in and enquire as to what is your tax status,” Modeste said.
She explained that this relates to whether persons owe income, property or corporate taxes or PAYE.
According to Modeste, some individuals have failed to file their tax returns, which is the basis for the amnesty.
She advised individuals who have not done so for the past six years from income year 2015 to come in and do so as there is no late filing penalty.
Modeste urged taxpayers not to be afraid of the IRD.
She explained that persons who face challenges in filling out their forms can contact the IRD for help.