In The Taxpayer's Interest

From experience, more often than note, taxpayers with substantial amounts of unsettled tax, social security contributions and VAT are frequently faced with cash liquidity problems and any additional tax, omission tax and interest incurred, resulting in the ballooning of the sums of pure tax in question, in no way help them come forward and clear what is due to the Revenue Departments.

To this effect, in recent years, both the Inland Revenue Department (the IRD) as well as the VAT Department felt the need to announce remission schemes, which schemes have always been very welcome, with the scope of encouraging taxpayers to put an end to their dues either by way of a lump sum or by entering into an instalment plan spread over a number of months through which the taxpayers would benefit from a percentage reduction in additional tax, omission tax and interest; and this according to the terms of payment they choose when signing the agreement with the Departments.