BASSETERRE, St. Kitts, February 13th 2013 – The Inland Revenue Department is fully aware of the importance of educating taxpayers of their tax obligations. In light of such, the department wishes to take this opportunity to remind all Corporate Partners that in accordance with Section 45 of The Tax Act, Cap 20.22 as amended by Act No. 6 of 2006, Section 5;
(1) “A taxpayer shall file a true and correct return of all sources of the taxpayers’ taxable income not later than the 15th day of the fourth month following the end of the year of assessment.”
(5) “A taxpayer shall pay any taxes payable by the taxpayer not later than the 15th day of the fourth month following the end of the calendar or basic year, as the case may be”
(6) “ A taxpayer shall pay the tax payable for a year of assessment less any installments of the tax paid under section 65 (2) (3) of the Act”
All Corporate Partners are therefore required to submit payment for any accrued tax liability when filing their annual Corporate Income Tax Return with the accompanying Financial Statements.
The Inland Revenue Department is charged with administering the tax laws of the Federation in an efficient and equitable manner, to promote voluntary compliance to maximize Revenue for the development of the Federation at the least cost to the public and in a manner that warrants the highest degree of Public confidence in our integrity, efficiency and fairness.
The Inland Revenue Department is the prime revenue collections agency for the Government of St. Kitts and Nevis within the Ministry of Finance, located at Bay Road, Basseterre, and Charlestown, St. Kitts and Nevis, West Indies.
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