Tax amnesty on in Grenada

The government in Grenada has declared a four-month amnesty for taxpayers in arrears to settle their accounts.



The finance minister Nazim Burke says where taxpayers agree to promptly settle all outstanding taxes, government will grant a 100 per cent waiver on interest and penalties.



The amnesty will run from November 17 to the end of March next year and is applicable to all forms of taxation owed up to December last year.



The estimated principal amount owing to the government is 28 point 2 million dollars while interest in arrears is 32 million dollars.



Burke says the arrears has been impacting negatively on government’s revenue and is hindering its performance and expansion of the private sector.