Audio By Carbonatix
Businesses that have failed to meet their tax obligations in the past will from next year be given pardon to come forward and make the necessary payments without penalties.
This follows the passage of the Internal Revenue Amnesty Bill by Parliament on Monday, to give the necessary legal backing to this provision.
Persons and businesses who have failed to file their tax returns on time have in the past been slapped with fines and interest payments. Analysts say this discouraged a lot of people from coming forward to pay levies due the state.
Deputy Finance Minister Seth Terkper told JOYBUSINESS this should give tax evaders an opportunity to start afresh in fulfilling their tax obligations.
“When you grant an amnesty, you also want to make sure that you put in stringent measures so that those who have been complying with their taxes don’t feel cheated…
“The bill that was just passed, if accented by the president, will ensure that GRA has the necessary guidelines for the amnesty to come into effect.”
Government is 2007 embarked on similar move which saw a lot of businesses come forward to pay taxes they had evaded.
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