The Honourable Colm Imbert, Minister of Finance, wishes to advise that the 2019 Tax Amnesty, by legal notice 290, has been extended to Monday September 30th, 2019.
The Amnesty provides for the waiver of:
- Interest on ALL outstanding taxes applicable under the following Revenue Laws:
- Registration of Clubs Act, Chap. 21:012.
- Income Tax Act, Chap. 21:013.
- Corporation Tax Act, Chap. 75:024.
- Unemployment Levy Act, Chap. 75:035.
- Petroleum Taxes Act, Chap. 75:046.
- Health Surcharge Act, Chap. 75:057.
- Value Added Tax Act, Chap. 75:068.
- Stamp Duty Act, Chap. 76:019.
- Section 54 of the Property Tax Act, Chap. 76:0410.
- Parts IX, XI, XIII, XIV and XV of the Miscellaneous Taxes Act, Chap. 77:0111.
- Tourism Development Act, Chap. 87:22
The waiver on interest includes but is not limited to the following taxes:
(i) income tax
(ii) corporation tax
(iii) petroleum profits tax
(iv) supplemental petroleum tax
(v) land and building taxes
(vi) green fund levy
(vii) business levy
(viii) tax on gambling devices
(ix) stamp duty
(x) value added tax
(xi) heath surcharge
(xii) hotel accommodation tax
(xiii) financial services tax
(xiv) insurance premium tax
(xv) special tax
- The waiver applies where these taxes are due and payable for the years up to and including the year ending December 31st, 2018 and the taxes are paid before or during the period of the Tax Amnesty.
- The waiver also covers outstanding interest charged on any outstanding tax due and payable for the years up to December 31st, 2018, where the outstanding taxes are paid before or during the period of the Tax Amnesty.
This waiver of interest on outstanding taxes applies to companies, organizations and individuals.
Additionally, a waiver of penalties is applicable and covers:
- Penalties on any tax or outstanding tax or interest for the years up to and including the year ending December 31, 2018, where the outstanding taxes are paid before or during the period of the Tax Amnesty.
- Penalties on any outstanding return for the years up to and including the year ending December 31, 2018, where the return is filed prior to or during the period of the Tax Amnesty.
This waiver of penalties on outstanding taxes, outstanding interest and outstanding tax returns applies to companies, organizations and individuals.
Taxpayers are also advised that there will be no further extensions of the Tax Amnesty in 2019.
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