The Inland Revenue Department (IRD) urges taxpayers to take advantage of the extended tax amnesty, now available until May 1, 2025. Under this amnesty, all penalties, interest charges, and collection fees are waived, allowing taxpayers to settle only the taxes owed to the state.
“Don’t let this opportunity pass you by. Whether you are a company or an individual, this amnesty is for you,” So said Acting Deputy Comptroller at the Inland Revenue Department (IRD), Fleur Simmons, as she encourages taxpayers to act before the tax amnesty ends.
“If you have any tax arrears for any period up to income year 2021 the tax amnesty allows for a 100% waiver on interest, penalties, and collection fees if the outstanding tax is paid by the 1st of May 2025.”
The amnesty covers personal and corporate income tax, property tax, VAT, hotel accommodation tax, PAYE, withholding tax, contract tax, insurance premium tax, travel tax, and passenger facility fees. Simmons is urging taxpayers with outstanding liabilities in these areas to contact the IRD to determine their status.
“Once you determine your tax status and you have a liability then you can start the process going. You come in and have a discussion with one of our officers and they will explain to you the way forward. You can either pay off everything or you can make a payment arrangement. Once it is done by the 1st of May 2025 then all interests, penalties, and collection fees are waived.”