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IRD to take Legal Action against non-complaint Businesses


Thursday, March 27, 2014 10:38 AM- St. George's, Grenada
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ST. GEORGE’S, GRENADA, Thursday, March 27, 2014:
The general public may recall that in in the last quarter of 2013, the Inland Revenue Division (IRD) of the Ministry of Finance and Energy announced that it had issued fixed penalties to several businesses within St. George’s for failure to issue VAT receipt to its consumers, and failure to keep proper records. These fixed penalties ranged from five hundred ($500) to five thousand dollars ($5,000.)

In total, thirty-five businesses were issued with tickets. To date, thirty-two of these businesses have paid their fines. The IRD will be taking legal action against the three businesses that have failed to pay their fines.

The IRD hereby reminds businesses that, once they qualify, they are obligated to register with the IRD, to collect VAT, in trust, and that it is their legal and patriotic duty to remit the VAT collected to the IRD/Government of Grenada.

The IRD also reminds businesses and the general public that it has intensified its enforcement operations. VAT Registrants are also obligated under the Value Added Tax Act, 2009, to issue receipts to every customer to whom a sale is made.

The general public and taxpayers are reminded that they must obtain receipts when making purchases and that they must report any business which refuses to issue a receipt or if there are any discrepancies with their receipts. Taxpayers can contact the Division at 440-3556/435-6945/46/6853 or email at gndird@spiceisle.com of vat@gov.gd .

The IRD looks forward to creating a strong partnership with businesses and the taxpaying public to ensure that taxes paid are duly remitted to the Division so that Government can provide critical services to citizens.


 

 

 

 

 

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