B.V.I. Monday, April 27 – The Department of Inland Revenue is urging all employers and self-employed persons to submit their 2008 Annual Payroll Tax Returns on or before April 30.

In a Government Information Service Radio Report, Deputy Commissioner of Inland Revenue Mr. Orris Thomas said employers should be making final preparations to submit their annual returns.  “I encourage all employers to take the time to ensure that their annual returns reach the Inland Revenue Department by April 30,” he said, adding, “if you have any difficulties you must contact the office now so that the necessary arrangements can be made by way of perhaps granting an extension if so requested.”

Mr. Thomas explained that employers or self-employed persons must write to the Commissioner of Inland Revenue to request the extension. 

Additionally, Mr. Thomas said if persons need assistance or help in completing the forms they can contact the department.  “Persons can call the Tax Payer Services Unit within the department and they will assist with any queries that persons may have in relation to preparing their submissions,” he said.

He has also announced that the department will be implementing monthly visits to the sister islands of Anegada and Jost Van Dyke beginning May 13 and 14, respectively and that more information will be forthcoming. 

The department is reminding employers and self-employed persons that the annual returns must be submitted with the following documents, the Annual Return of Payroll Tax (Form P7- the blue form); Return of Notional Remuneration and Financial Statement (Form P11- the green form); Annual Payroll Remittance Form (F48- white form); and Record of Employees Tax Deductions (Form P1- the pink form).  All forms must be completed and signed.

Annual returns received after the due date of Thursday, April 30 will be charged $50 or five percent penalty, whichever is greater, and four percent interest per annum on any amount that remains unpaid.

The Department of Inland Revenue, which falls under the ambit of the Ministry Finance, aims to be recognised as an efficient and effective tax administration dedicated to delivering customer service in an environment of integrity, fairness and mutual respect, thereby fostering voluntary compliance.  For more information or assistance contact the Inland Revenue Department at 494-3701 extension 2155 on Tortola or extension 6533 on Virgin Gorda.