Georgetown: Commissioner-General of the Revenue body, Mr. Khurshid Sattaur said that the GRA will be even more persistent in its collection of Taxes for the year 2014. Mr. Sattaur stated that “based on the budget that I have been given this year, through the national assembly, I have been asked to collect $9B more than I collected last year. So expect us to come out there and be a little more aggressive in collecting your taxes”
He noted that while many persons are filing tax returns, there are still a number of challenges with person in the self-employed category, as their failure to pay their fair amount of tax or any tax at all in some cases continues. It was with the aim of increasing compliance that the GRA established Tax Sites, which were either fixed or temporary during the lead up to April 30. These sites were set up at convenient locations around the country to cater for persons who were unable to visit the established offices. At each Tax Site, GRA’s Officials were on hand to accept Tax Returns submitted by taxpayers, helping them to honour their tax responsibilities.
April 30 was the statutory deadline for the submission of Income, Property, Corporation, and Capital Gains taxes. In the lead up to the April 30 deadline the GRA intensified its efforts to sensitize taxpayers about their statutory obligations as it relates to the submission of Tax Returns and payment of outstanding taxes. Since failure to submit these returns on or before the due dates would attract a penalty of two percent of the taxes assessed for the late filing and the late payment and five percent if the failure persists.
“The law makes provisions for the filing and paying of taxes on specific due dates and if we do not do them, the law imposes a penalty where interest is charged on non payments… I am therefore appealing to the public to avoid having those unnecessary burdens placed on you, apart from paying and filing your taxes on time,” the Commissioner-General stated.
On April 30, Sites were established at the City Mall on the Third Floor, outside of N&S Mattai, Republic Bank Diamond and at GRA’s Headquarters under the tent. Person who have not yet submitted their Tax Returns are urged to submit now, since failure to submit a Return and pay the relevant taxes is an offence under the Income Tax Act Chapter 81:01.
Persons can still submit their Tax Returns at any of the GRA Branch Offices in the Regions.
Tax Sites officially commenced on March 24, 2014 and concluded on April 30, 2014. At the close of business on April 30, in excess of eighteen thousand (18,000) Tax Returns were collected via the tax sites as compared to eleven thousand six hundred and sixty four (11,664) on April 30, 2013.
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