Bureau of Tax & Revenue (BRT) reminds businesses and individuals that business license renewals for next year will begin this November 25 and that any business that have reported no gross (no activity) for more than a year will be deactivated.
“In effort to streamline our tax administration function on licensing of businesses and revenue collection, many dormant businesses that have reported no gross over for more than a year will be deactivated and removed from the registry, prior to 1 January, 2020,” says BRT public notice.
In addition, BRT announced that there will be no waiving of late payment penalties and interests in the coming new year as part of the Bureau’s effort to enhance tax administration. All taxpayers are reminded to file all their due taxes to avoid penalties and interests.
The same goes to employers of domestic /household employees to file timely tax report and pay fully all due taxes for employees. Failure to properly pay taxes can lead to legal matters including proceedings to revoke employees’ work permits and/or repatriation of domestic/household employees.
BRT also reminds Air BNB and Apartment businesses to file properly in accordance with the laws. Violation of licensing requirement or reporting requirements may lead to prosecution.
Tax and Revenue also reminds landowners who lease their lands to pay taxes for their leased properties or face steep penalties and interests.
Any questions about any these taxes and/or licensing requirements may be directed to the Bureau of Revenue and Taxation.