Finance Ministry issues Tax Amnesty reminder

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    The Finance Ministry is issuing another call for persons to take advantage of an ongoing Tax Amnesty.

    The Amnesty, which began on June 15th and runs until September 15th 2019, will see a waiver of penalties and interest charges on outstanding tax liabilities in relation to taxes under the revenue laws.

    In its latest bulletin, it says persons can save thousands in penalties and interest if they file and pay their outstanding taxes during the amnesty period.

    According to previous information from the Finance Ministry, the Amnesty provides for the waiver of:

    • Interest on any outstanding taxes, where they are due and payable for the years up
      to and including the year ending 31st December, 2018 and that the taxes are paid
      before or during the period of the Tax Amnesty.
    • Outstanding interest charged on any outstanding tax due and payable for the years up to 31st December, 2018, where the outstanding taxes are paid before or during the
      period of the Tax Amnesty.

    Additionally, a waiver of penalties is applicable on or to:

    • Any tax or outstanding tax or interest for the years up to and including the year
      ending 31st December, 2018, where the outstanding taxes are paid before or during
      the period of the Tax Amnesty.
    • Any outstanding return for the years up to and including the year ending 31st
      December , 2018, where the return is filed prior to or during the period of the Tax
      Amnesty.

    According to the Ministry, the waiver does not apply to any interest and penalties paid prior to 15th June, 2019 and only tax returns for the period 2013 – 2018 are valid for filing in 2019.

    It warned as well that taxes and returns that remain outstanding after the amnesty ends, will be subject to the revived penalties and interest under the law.

    Flyer released by the Finance Ministry for the ongoing Tax Amnesty.