BUDGET 2018: Amnesty granted to all taxpayers

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In his Budget 2018 presentation, Minister of Finance, Winston Jordan announced that government has decided to grant amnesty to “all delinquent taxpayers – corporate and individual” – who are outstanding in the filing of true and correct tax returns and payment of their true and correct taxes.

He said that this amnesty will be in effect from January 1, 2018, through September 30, 2018. Taxpayers who file and pay all principal taxes on or before June 30, 2018, will have all interest and penalties waived, while those who file and pay all principal taxes between July 01, 2018 and September 30, 2018, will have 50 percent of interest and penalties waived.

He noted that taxpayers who expect to benefit from this amnesty must file true and correct returns. Those found to be in violation will be subject to an audit and the attendant penalties and interest will be applied. According to the Finance Minister, the Guyana Revenue Authority (GRA) will be devoting increased resources to enforcement of the income tax laws.

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