The Inland Revenue Division (IRD) of the Ministry of Finance reminds taxpayers who are liable to pay Income Tax that they have 3 remaining weeks to file their Income Tax Returns, and where applicable pay any outstanding liabilities ahead of the Wednesday, 30 March deadline.
The tax returns due are:
- Personal Income Tax (PIT)
- Corporate Income Tax (CIT)
- Annual Stamp Tax (AST)
Sole traders, partners, companies, other organizations and employed persons are therefore urged to prepare and file their Return of Income, along with their financial statements where applicable and make all required payments prior to Wednesday, 30 March, to avoid the long lines.
Employees are reminded that the current income tax law not only mandates persons earning more than $3,000 per month or $36,000 per year to pay Income Tax, but it also requires them to file an Income Tax Return each year.
Taxpayers who do not meet the deadline of Wednesday, 30 March 2016, will be required to pay late filing penalties and interests.
Employees, except government workers, are required to obtain a Certificate of Remuneration, stating total salaries received and taxes paid for the period from their employer. This certificate must be attached to the Tax Return Form. The Personal Income Tax (PIT) Return and other forms can be obtained from the IRD website.
Tax returns are to be submitted to the IRD or before the required date. The Tax Identification Number (TIN) must be stated on the Tax Return Form when filing.
Taxpayers needing assistance in filling up the forms can visit the IRD office at the Ministry of Finance on the Carenage, St George’s; call Taxpayer Services on 435-1905; or email us at [email protected].
Ministry of Finance
The originally published version of this release incorrectly stated the deadline as Thursday, 30 March.