Saint Lucia govt reminds citizens to settle outstanding taxes till May 1

Castries, Saint Lucia: The Government of Saint Lucia reminded the people in the federation to settle all their outstanding taxes, i.e., penalties, fines and interests, before the deadline of the ongoing Tax Amnesty Programme, which is fixed to May 1, 2024.

It is to be noted that the eligible taxpayers will get the advantage of a 100 per cent waiver on all applicable charges. The Govt of Saint Lucia took their official social media handle (Facebook) to share the reminder for its people.

The citizens will get an opportunity in the private sector under this programme as property owners focus on the regulation of their taxes.

“The tax amnesty programme provides an opportunity for the private sector, citizens and property owners to regularize their tax profiles and avoid having to incur additional charges”, stated the government of Saint Lucia.

Initially, in 2022, the Prime Minister and Minister for Finance, Philip J Pierre, chaired the legislation in the Parliament to shape the tax amnesty programme legally. Notably, the interest and penalty charges on outstanding taxes owed to the Inland Revenue Department (IRD) amounted to $780 million during that time.

Furthermore, the leader of Saint Lucia, during the past year, has extended the deadline for the tax amnesty programme by one year to May 1, 2024.

It is to be noted that the forgoing potentially $780 million in uncollected tax revenue shows the government’s preparations and policies towards the economic challenges that are mainly faced by the private sector and Saint Lucian households.

It is to be added in the remarks of Prime Minister Pierre that this programme is a timely policy response designed to ease the economic pressure on Saint Lucia businesses and households grappling with record-high inflation and volatility in the global economy.

“The Prime Minister’s tax amnesty programme is a timely policy response crafted to alleviate economic pressure on Saint Lucian businesses and households confronted by record-high inflation and instability in the global economy”, remarked Govt of Saint Lucia.

This programme offers an opportunity for local businesses to advance and flourish their business without any economic pressure of taxes. In case of any query, taxpayers are advised to visit the IRD in the Heraldine Rock Building in Castries.