THE Tax Amnesty has been extended for one more month.
The Board of Inland Revenue in a public notice stated 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 notice stated.
Act No. 21 of 2022, provided for a Tax Amnesty for the period November 14, 2022 to February, 17 2023.
According to the Ministry of Finance Inland Revenue Division, the Act provides for the waiver of:
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Interest on any outstanding taxes, where they are due and payable for the years up to and including the year ending December 31, 2021 and that the taxes are paid during the period of the Tax Amnesty.
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Outstanding interest charged on any outstanding tax due and payable for the years up to December 31, 2021, where the outstanding taxes are paid during the period of the Tax Amnesty.
Additionally, a waiver of penalties is applicable on or to:
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Any tax or outstanding tax or interest for the years up to and including the year ending December 31, 2021, where the outstanding taxes are paid during the period of the Tax Amnesty.
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Any outstanding return for the years up to and including the year ending December 31, 2021, where the return is filed during the period of the Tax Amnesty.
Taxes applicable to the amnesty include: individual income tax, health surcharge, corporation tax, business levy, green fund levy, value added tax, petroleum profits tax, supplemental petroleum tax, unemployment levy, stamp duty, club gaming tax, gaming amusement tax, withholding tax and property tax.
