Tax amnesty ends today

“That is not possible at this time,” the Minister said.

“That requires a legislative amendment.” Parliament has been adjourned and the session is due to end on September 22.

Thereafter the Budget has to be debated, as well as tax agreement legislation.

In July, Finance Minister piloted the Finance (No 2) Act 2016 which gave taxpayers a window to pay taxes due.

The legislation waived interest, penalties and other liabilities on taxes and other liabilities that were due and payable up to December 2015.

The amnesty applied to income tax, corporation tax, petroleum tax, VAT, withholding tax, business levies and penalties for failing to file or deliver documents to the Companies Registry.

The State anticipates about $500 million in revenue might be gained, but there are uncollected taxes numbering in the billions, Parliament has heard. Speaking with reporters at Parliament on Wednesday, the Finance Minister anticipated many will.

“I expect a mad rush this week they tell me people always come in at the last minute.”