75% Tax Interest Reduction Available To Property Owners
The Government of the British Virgin Islands is extending to property owners a 75% reduction on property tax interests accrued for tax year 2018 and prior years.
Property owners are urged to pay the outstanding principal (tax) with 25% interests forthwith, or agree to a payment plan with the Commissioner of Inland Revenue to liquidate the outstanding tax with 25% interests within the relief period.
The period of relief of interests extends from October 14, to January 31, 2020.
Commissioner of the Inland Revenue Department, Mrs. Karen Smith-Aaron is urging Property owners to liquidate all outstanding Property Taxes. Property tax is due and payable on September 1 and extends to November 30 annually without interests being added.
Property owners are also reminded that Land Instruments will not be processed at the Inland Revenue Department unless the Property Tax relating to the parcel is paid to date.
The Inland Revenue Department is 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.