- Grenada has launched a new Digital Tax Administration System called GTAX.
- The system was implemented with funding from the World Bank and the Digital Governance for Resilience initiative.
- GTAX aims to digitize the Inland Revenue Division’s tax administration system and other government services.
- The program will be implemented gradually throughout 2024 and is part of the government’s commitment to national transformation.
- The migration to digital processes will allow the IRD to shift from a traditional tax collection agency to a more customer-focused division.
- Initially, the system will target large and medium-sized businesses and offer online filing and payment options for VAT, PAYE, and CIT Installments.
- The second phase, set to roll out in the last quarter of 2024, will include all tax types and provide online services for businesses, individuals, and property owners.
- Taxpayers will have a grace period to complete their online registration with a valid email address.
- The new system is expected to increase efficiency, streamline processes, and provide a seamless experience for taxpayers.
- A new Taxpayer Identification Number (TIN) will be generated for taxpayers currently registered for VAT, PAYE, and CIT installments.
- Existing tax identification numbers will be stored for tax records, and by the end of 2024, all taxpayers will have their new TIN.
Source: stvincenttimes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
