Senate minority leader proposes incentives for tax return compliance
By Zaya Williams
The Sales Tax Amendment Bill has been passed in the Upper House with a major change set to come into effect from April.
The key amendment outlined in the bill is the change to Section 39 of the Principal Act, which mandates that a taxable person must lodge an ABST return for each tax period no later than 15 calendar days after the end of the period.
This amendment reduces the lodging period from 30 days to 15 days, significantly expediting the collection process.
After just having to move swiftly adjust their pricing structures in response to the recent tax changes, incurring additional manpower and administrative costs, businesses are lamenting lack of consultation.
Senate Minority Leader Shawn Nicholas championed those concerns in the senate saying that she believes that not only should have consultations been held but there are other means to improve compliance.
“Do not penalize those who are complying. Try and see how you can get more people into the net and having them in the net, what can we do to make sure that the way in which we do business we are able to meet the expenses… incentivize those who pay,” she said.
Government senators completely disagreed with her suggestion.
Senator Philip Shoul said “it cannot be right” to give businesses an incentive for paying what does not belong to them in the first place.
This story was first published by Antigua News on : antigua.news/2024/03/03/senate-minority-leader-proposes-incentives-for-tax-return-compliance. © 2024 Antigua News. Republication without permission is not allowed.
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WCD March 3, 2024, 11:27 AM