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| "Inland Revenue will aggressively enforce tax laws such as seizure of property and other assets to satisfy outstanding taxes. Furthermore, government may consider the imposition of a tax compliance certificate in order to access certain basic services. The requirement for this certificate may also extend to persons who have not paid licences such as business, driver or motor vehicle," the statement said. (File photo) | |
ST GEORGE'S, Grenada, November 19, 2008 - The Grenada government is offering a four-month amnesty to delinquent taxpayers to allow them to clear their debts without interest and penalties. And it says those who don't take hold of the opportunity will feel the full weight of the law when the amnesty ends in March next year.
The amnesty has come against the background of citizens running up significant tax arrears, impacting negatively on government's revenue collection and business performance and expansion.
"Some taxpayers in arrears are almost paralyzed by the magnitude of their arrears. Still others appear to have given up. Furthermore, some businesses are unable to access concessions for expansion because of tax arrears," said a government statement announcing the amnesty.
"In many cases, the interest and penalties are more than the actual taxes because of the delay in the payment of these taxes. Where a taxpayer agrees to promptly settle all outstanding taxes, Government will grant a 100 per cent waiver on interest and penalties between November 17, 2008 and March 31, 2009."
And while it is making efforts to assist those persons, the government said it would only do so for a time. After the deadline, the authorities will be going after those who still remain delinquent despite the amnesty.
"Inland Revenue will aggressively enforce tax laws such as seizure of property and other assets to satisfy outstanding taxes. Furthermore, government may consider the imposition of a tax compliance certificate in order to access certain basic services. The requirement for this certificate may also extend to persons who have not paid licences such as business, driver or motor vehicle," the statement said.
The amnesty extends to persons who are registered taxpayers but have not filed their returns and paid their taxes. It also allows persons or businesses, who have not yet registered, to register, file and pay during the amnesty, without interest and penalty.
According to the statement, taxpayers who cannot immediately settle all outstanding taxes can enter into a payment plan, while those already on such a plan can make adjustments to benefit from the amnesty.
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