Reminders

The Inland Revenue Department wishes to advise the general public, that all commercial entities desirous of operating in the Federation, irrespective of size, are required by law to obtain a Business Licence. Current Business Licence holders are reminded, that their Licences should be renewed on or before January 30st, 2015. Payment after this date, will accrue interest at a rate of 12% per annum.

LATEST NEWS
  • VAT EXEMPTED ITEMS

    (NEW FAMILY SHOPPING LIST)

    During the 2014 Budget Address, the Prime Minister introduced the Family Shopping List to meet the basic needs of the family. The items outlined in the list, effective immediately, will no longer attract VAT or Customs Duty.

    The Inland Revenue Department in its efforts to continuously educate taxpayers and keep them informed would like to advise the general public that a detailed list of these items and their corresponding tariffs can be accessed through the Family Shopping List

     

  • NEW FILING & PAYMENT PERIODS FOR LISTED TAXES CHANGED FROM MONTHLY TO QUARTERLY

    The Inland Revenue Department wishes to advise all taxpayers that effective January 1st, 2014, the filing and payment periods have been changed from monthly to quarterly, for the taxes listed below. These taxes are:

     

    1. Unincorporated Business Tax (UBT)

     

    2. Withholding Tax (WTH)

     

    3. Island Enhancement Fund (E-Fund)

     

    4. Insurance Premium Tax

     

    5. Hotel & Restaurant Tax

     

    6. Travel Tax and

     

    7. Excise Tax

     

    Therefore, the new filing and payment periods for the above listed taxes are as follows;

    March 16th, 2015 – (For the months of December, 2014, January and February 2015)

    June 15th, 2015 – (For the months of March, April and May 2015)

    September 15th, 2015 – (For the months of June, July and August 2015)

    December 15th, 2015 – (For the months of September, October and November 2015)

    March 15th, 2016 – (For the months of December, 2015, January and February 2016)

  • E-services at Inland Reveunue Department

    To cater to the needs of our customers and provide them with more efficient service, the Department on July 15, 2013, launched its E-services. E-services is online access geared towards improving services that we provide to our taxpayers by making it easier for them to meet their tax obligations. E-services have now been extended to ALL our taxpayers including those for Property Tax. Taxpayers can now pay their property taxes; view balances and acquire a breakdown of your property tax information. One major benefit of this service is that it makes the process of paying taxes simple while another benefit is the wealth of information at your fingertips about your tax obligations. All taxpayers now have full access to Convenience, Efficiency, Security, Confidentiality and most of all Great Service! Sign up for our E-services TODAY!

TIPS
  • Payment of outstanding taxes and annual filings of financial statements, including tax returns, are due 3 ½ months following the end of the financial year of every company.