Taxpayers get more time

THE Board of Inland Revenue (BIR) of the Ministry of Finance showed some love to taxpayers on Wednesday, Valentine's Day, by giving an extra month for them to get their affairs in order, by way of extending the current tax amnesty. The amnesty originally ran from November 14, 2022 to February 17, 2023.

A statement on the ministry's website said, "The Board of Inland Revenue advises the public that the Tax Amnesty has been extended to March 17, 2023.

"This facility allows for the waiver of penalties and interest charges payable by taxpayers on outstanding tax liabilities in relation to taxes under the revenue laws."

The ministry said taxpayers can get more details at the Inland Revenue Division (IRD) website at https://www.ird.gov.tt/taxamnesty/2023.

A paid press advert in Newsday on Wednesday listed the classes of tax benefiting from the amnesty.

These are: individual income tax, Pay-As-You-Earn (PAYE), health surcharge, corporation tax, business levy, Green Fund levy, value added tax (VAT), Petroleum Profits Tax (PPT), Supplemental Petroleum Tax (SPT), unemployment levy, stamp duty, club gaming tax, gaming amusement tax, withholding tax and property tax.