NO. 75/2016                                 DATE: December 6, 2016

 

TAXES DUE FOR DECEMBER 2016

 

ST. GEORGE’S GRENADA, Tuesday, December 6^th, 2016: The Inland Revenue Division (IRD) of the Ministry of Finance and Energy reminds the public of the following taxes that are due and payable for December, 2016.

 

December 7^th     -   Pay as you Earn (P.A.Y.E.) &

                             -       Withholding Tax

 

December 20^th   -   (VAT) Value Added Tax

   -    Excise Tax Return Due & Payable

 

December 29^th  -   Income Tax Returns for Businesses with Fiscal Year ending 30^th September, 2016

 

December 31^st   -  (A.S.T) Annual Stamp Tax Installment

                             -  Corporation Tax & Personal Income Tax (Sole Proprietorship & Partnership) installments due

 

Persons are encouraged to pay early to avoid the long lines or fees and penalties from late payment. 

 

NB: When the due date falls on a Saturday, Sunday or Public Holiday, the next working day will be the due date for payment.

 

PENALTIES

 

Late Payment: A taxpayer who fails to pay all or part of a tax including withholding tax due for a tax period within fourteen days of the due date, or by the due date specified in the notice of assessment, if later, is liable to a late payment fee equal to 20 percent of the amount of tax due but not paid. A person who fails to pay all or part of an installment required pursuant to the Income Tax Act Cap 149 within fourteen days of the due date for the installment is liable to a late payment fee equal to 10 percent of the amount of tax due but not paid.

 

Late Filing:   A taxpayer who fails to file a tax return on or before the date on which it is due is liable to pay a late fee equal to the greater of:

·         Five percent (5%) of the amount of the tax owing, plus a further one percent of the amount of tax owing for each month or part of a month during which the failure to file continues; and

·         Five hundred dollars ($500), plus a further one hundred dollars ($100) for each month or part of a month during which the failure to file continues. 

 

Payments can be made at the Ministry of Finance, any District Revenue Office and through the Ministry's online portal: www.eservices.gov.gd  (Please use Chrome or Firefox platform).

 

For further information, please contact Mrs. Kareen Morain-Alexander, Public Relations Officer- Inland Revenue Division, Ministry of Finance and Energy at 435-6945/6 or visit us at www.ird.gd