Late tax returns will incur automatic penalty under TRIPS

The Guyana Revenue Authority (GRA) has reminded that April 30 is the deadline for filing all tax returns and says that late returns will automatically incur penalties.

In a press release the GRA said its Total Revenue Integrated Processing System (TRIPS) which requires all taxpayers to have a Taxpayer Identification Number (TIN) will automatically reveal non-filers and late filers. As such late filing penalties will be processed automatically. In light of this, taxpayers who file income, corporation, property and capital tax returns including PAYE and self-employed taxes are advised to ensure that they file returns within the time specified by law.

The GRA said in order to facilitate taxpayer-compliance it will erect booths in prominent locations in April to demonstrate and assist taxpayers in this exercise. Booths will be erected in Georgetown and its environs as well as at the regional branch offices. The GRA urges taxpayers to not be delinquent and to ensure that all submitted information is “true and correct.”

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