Inland Revenue extends property tax amnesty to February 2023

The Inland Revenue Department has announced that the government plans to extend the 100 per cent reduction on property tax interests accrued for the 2021 tax year and prior years.

The period of relief of interests extends from March 1, 2022, to February 28, 2023.

All property owners are being urged to pay the outstanding principal [tax] immediately or at least agree to a payment plan with the Commissioner of Inland Revenue Karen Smith-Aaron to liquidate any outstanding taxes within the relief period.

Property owners are notified that property tax is due and payable on September 1 and it extends to November 30 annually without accruing interest.

The amnesty programme, according to Smith-Aaron is being done to have every property owner comply with the regulations described in the Act that governs property tax.

“It is the government’s intention to implement an amnesty on the interest in property tax with the hope that property owners will take full advantage of this opportunity to have their property taxes paid and in compliance with The Property Tax Act (Cap 207),” the Inland Revenue Commissioner said.

Smith-Aaron is also urging property owners to liquidate all outstanding property taxes and it is important to note that all land instruments will not be processed at the Inland Revenue Department unless all the Property Tax relating to the parcel is paid up to date.

The Inland Revenue Department said it remains committed to assessing the taxes, licences and fees due to the Government of the Virgin Islands; and applying the tax laws with fairness and integrity in an atmosphere of mutual respect, thus achieving compliance to maintain the economic and social well-being of the Virgin Islands.

Drakes_650x200