Due to the recent flood and to keep up with their tax obligations, including filing and paying GST, taxes on time. The following welcome move from Inland revenue are provided below:
- Waiver of penalties on case to case basis for taxpayer who has been affected due to floods
- Remission of interest on late payments – Order yet to be notified by cabinet
- Re-estimate the amount of tax if there is reduce in revenue or get claim on any overpaid tax amounts
- Taxpayers who have lost some or all tax records as a result of the recent flooding, the inland revenue will consider these circumstances as well
SOURCE – Inland Revenue
