As the March 31st deadline for the submission of tax returns draws near, the Inland Revenue Department (IRD) reminds taxpayers of the importance of this filing period. Lisa Goodman is the IRD’s Taxpayer Services Supervisor.
“It is very important that taxpayers submit returns annually that way they will determine whether they have paid the correct amount of tax. So when you file your tax returns, your allowances and deductions that you would have claimed for in your tax code will take effect on your return now. We’re asking persons also to ensure they have the correct tax code that way you pay the correct amount of tax so that you don’t have to wait for a few years down the line for Inland Revenue to pay you that tax you paid in excess.”
In order to successfully file tax returns, Goodman encourages taxpayers to gather their supporting documents now, such as salary TD5 copies, life insurance statements, credit union, and mortgage interest statements.
“We would like to encourage them to try out our online filing system. It saves time and effort. All the calculations are done for you once you put in the correct information.”
She added that persons requiring assistance in filing their tax returns can visit IRD offices in Vieux Fort, Soufriere, and Castries. The IRD stresses early filing to prevent the long lines usually associated with the filing period.
“We have put in a new feature this year. We will be opening on Saturdays from this Saturday and every Saturday in the month of March to provide filing assistance whether it’s online filing or paper-based, our offices will be open from 9:00 am to 3:00 pm that is in Castries and Vieux Fort at the Uptown Building Centre, New Dock Road.”
Taxpayers with outstanding liabilities are encouraged to visit the IRD offices to take advantage of the ongoing Tax Amnesty as this window of opportunity will soon end.
“We have one month left. It ends on April 30th. So, persons with liabilities up to 2020 should come in to take advantage of this tax amnesty which waves 100% of interest and penalties. So you will only be required to pay the tax amount outstanding by April 30th.
The deadline for filing of the 2022 tax returns is Friday, March 31st, 2023.