IRD Urges Taxpayers To Act Before Amnesty Ends

The Inland Revenue Department (IRD) has urged taxpayers to take advantage of the extended tax amnesty, now available until May 1, 2025. According to a National Competitiveness and Productivity Council (NCPC) release, the amnesty waives all penalties, interest charges, and collection fees, 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,” the release quoted IRD Acting Deputy Comptroller, Fleur Simmons, saying. Simmons also encouraged taxpayers to act before the 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,” she explained. In addition, Simmons invited taxpayers with outstanding liabilities in those 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...