200 to face tax court in January
December 17, 2008
The Tax Administration Services Department has issued more than a half a billion dollars in summonses to delinquent taxpayers.
In addition, the tax authorities have signalled that they will also be much less forgiving of employers and businesses that hold on to, or wrongly report, taxes 'collected in trust' on behalf of the Government, such as statutory deductions and GCT.
Both the Inland Revenue Department (IRD) and the Taxpayer Audit and Assessment Department (TAAD) will begin examining company records for either false reporting and or non-payment.
A breach once deducted will bring 'strong measures' down on the assessed party.
While, the TASD did not spell out what the punishment would be - it often tends to be case specific - case prosecuted in Savanna-la-Mar, Westmoreland, in early December, the managing director and accountant of Cabletron Network System were arraigned on 27 counts of false declarations on GCT returns, the fine paid amounted to $371,000.
Serious measures contemplated
TASD spokeswoman Meris Haughton also said Tuesday that the measures contemplated under the IRD/TAAD collaboration were "very serious" in a reminder that the breaches were criminal offences.
Still, while jail has not been ruled out, it is not the preferred option, she said.
The IRD is pressing ahead with prosecutions, but it is more likely that delinquents will be fined rather than confined.
The guilty are required not only to pay the court fine, but remain liable for the taxes, interest and penalties.
The current round of summonses that have been issued relate to more than 200 self employed persons and companies who, based on their returns, owe $553 million, but have not paid over the cash or made arrangements to pay....
Author: Gleaner Reporter
Source: Jamaica Gleaner
