Amid the economic pinch the community is feeling because of the COVID-19 pandemic, Cabinet has decided to ease the burden on some residents who owe property tax.
During the February 3 Cabinet meeting, government decided to grant a period of amnesty of interests accrued on property tax.
It’s unclear when the period of amnesty will start but according to the post-Cabinet document, it is set to end on August 31, 2021.
With this amnesty, property owners will be required to pay the outstanding principal tax or agree to a payment plan with the Inland Revenue Department to pay off the principal tax within the amnesty period.
Cabinet also decided that the Ministry of Finance will provide an update of the outcome of this amnesty on accrued interest by November 30, 2021.
The government will also be collaborating with the Inland Revenue Department to launch a public education campaign to educate property owners about the upcoming amnesty.
Since the onset of COVID-19 in early 2020, the government has granted a number of relief packages and grace periods to assist struggling residents and businesses with meeting needs and obligations such as food and utility bills.
Copyright 2021 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.