Tax amnesty extended to May 19

FINANCE Minister Colm Imbert has announced that the tax amnesty has been extended to May 19.

A release from the ministry said this extension is to give businesses and individuals more time to prepare their financial statements and finalise the necessary documentation to submit their tax returns and pay the taxes due for the year of income 2021 and prior years.

To date, the original target of $500 million from the amnesty has been exceeded, which has assisted the Government’s cash flow to a significant extent, especially during a time of declining oil and gas prices.