The Inland Revenue Division of the Ministry of Finance and Energy, as part of its monitoring and enforcement surveillance, has once again issued fixed penalties to several businesses within St. George’s for failure to issue VAT receipt to its consumers, and failure to keep proper records. These fixed penalties ranged from five hundred ($500) to five thousand dollars ($5,000.).
The Division has also issued warnings to several other businesses for failure to comply with the tax laws.
The Inland Revenue Division hereby reminds businesses and the general public that it has intensified its enforcement operations. VAT Registrants are reminded of their obligations under the Value Added Tax Act, 2009, to issue receipts to every customer to whom a sale is made.
The Division also reminds the general public and taxpayers to request their receipts when making purchases and immediately report any business which refuses to issue a receipt or if there are any discrepancies with their receipts.
Taxpayers may contact the Division at 440-3556/435-6945/46/6853 or email at email@example.com or firstname.lastname@example.org. The Inland Revenue Division looks forward to creating a strong partnership with businesses and the taxpaying public to ensure that taxes paid are duly remitted to the Division so that Government can provide critical services to citizens.