Tax amnesty extended until January 31st 2021

Government has made a decision to extend the tax amnesty until January 31st, 2021.

This information was revealed by Minister of Trade, Commerce, Entrepreneurship, Innovation, Business and Export Development, Ian Douglas during a statement on Tuesday.

According to him, during the 2021 Budget address the Prime Minister announced a tax amnesty to take effect from the 1st day of August 2020 to 30th November 2020.

He said the Prime Minister also indicated that the government would waive the interest and penalties due on outstanding personal income taxes, withholding tax, corporate tax, excise tax, and value added tax liabilities in respect of the tax periods prior to 2019 if all the principle taxes owed for the respective tax types were paid during the period of amnesty.

“Mindful of the challenges that the country is facing as a result of the Covid-19 Pandemic and recognizing the efforts that are being made by these taxpayers to address their debt, the cabinet has taken a decision to extend the tax amnesty until January 31st, 2021,” Douglas revealed.

He indicated also that up to 30th November 2020 the government had collected $5.7 million as a result of the amnesty.

“We have received numerous requests for extension of the amnesty,” he stated.

Douglas noted that several individuals and businesses have indicated that they are in the process of securing the necessary finances and require some more time.

“We applaud the many Dominicans and residents who have taken advantage of this rare opportunity, particularly during this very difficult Covid-19 Pandemic period,” he noted. “We hope that many more will take advantage of the extended period.”