ST. GEORGE’S, GRENADA, Tuesday, March 26, 2013: The Ministry of Finance is pleased to announce that following the implementation of the Value Added Tax in 2010 and the reconstituting of the Appeals Tribunal in 2011, taxpayers have exercised their right to appeal to the Tribunal against additional assessments raised by the Inland Revenue Division. Most of these cases were related to the under and or improper reporting of VAT.
To date, the Appeals Tribunal has ruled in favor of the Inland Revenue Division (IRD) in all five (5) cases that were brought forward.
The IRD will continue to strengthen its enforcement operations to ensure that all Tax Laws are properly administered in Grenada.
The IRD is therefore urging businesses and the general public to ensure that all documents are in proper order, and that all regulations, as stipulated under the various tax laws, are adhered to when submissions are being made to the Inland Revenue Division.
The general public is reminded to request their receipts when making purchases and report any incidents of discrepancies or failure on the part of the businesses to comply with tax laws. The Division can be contacted at 440-3556/435-6945/46/6853 or at the Tax Hotline at 435-9085.
Inland Revenue Division looks forward to strengthening the partnership with business community and the general public in order to successfully administer the Tax Laws.