ST.JOHN'S Antigua, March 6th, 2012 -- Inland Revenue Department officials have begun a series of media and public appearances to explain how benefits and allowances will be taxed from 2nd April.
Revenue Reform Manager Everett Christian said that while the response has been mixed, citizens and residents are generally not opposed to paying their fair share of taxes provided the tax revenues are expended wisely and are properly accounted for.
Christian said the public is beginning to understand the reasons for closing the loophole before bringing more taxpayers into the net.
The IRD’s Reform Project initially focussed on the 226 largest taxpayers, and has reported acceptable success in this regard.
The Department has identified 1200 individuals and companies in the medium band, which comprise of a wide range of professionals, including doctors, lawyers, engineers, architects, pharmacists and contractors.
Approximately 900 of these individuals file no tax returns, which Christian says the IRD intends to change,concurrent with closing the loophole.
The Revenue Reform Manager said there would have been little point to expend resources on registering additional taxpayers, who could then legally claim more in benefits and allowances than in salary. IRD officials continue to be available for private sessions with large employers to explain the impending changes.
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Antigua News