Beautiful Virgin Islands

Gov’t takes steps to improve tax collection

Gov’t takes steps to improve tax collection

As the territory heads towards full recovery from the global COVID-19 pandemic, the government has announced that it is making plans to improve its revenue collection systems.
Making his budget presentation this week, Premier Dr Natalio Wheatley, new technology is being sourced to help the government become more efficient in collecting taxes and other government fees.

The Premier revealed that the Inland Revenue Department has embarked on a two-year project to upgrade its Standard Integrated Government Tax Administration System (SIGTAS). This upgrade is expected to automate processes and facilitate greater transparency and modernisation of the taxation process. The new system will allow for e-registration, e-filing, e-payments, and flexible reporting.

“By upgrading this software, central government will be able to optimise decision-making and increase the efficiency in tax collection, enforcement, and recovery. This will be rolled out early in 2023,” Premier Wheatley explained.

He also said the government is working on a new e-payment system with Banco Popular that will allow residents to pay government fees easier and safer. He said the new system will reduce the risk and the responsibility the government has to bear when processing credit cards directly.

“With this approach, the government would gain the benefit of collecting revenue online, while limiting its involvement in banking activities,” Premier Wheatley said before adding that the new e-payment system will be launched early in 2023.

The Premier also outlined other benefits of the new e-payment system which includes a secure payment environment with a high level of fraud protection; the ability to make payments 24 hours a day; and the ability to accept all forms of payment that are available locally.

Premier Wheatley also signalled that many government agencies will be empowered to digitise their processes in the coming months, which should allow for a more efficient use of public resources.

Related Articles

Beautiful Virgin Islands
The gunman who attempted to assassinate Donald Trump Saturday is 20-year-old Thomas Matthew Crooks
Banksy's Influence on Port Talbot's Street Art Scene
Bodies of Two Men Found in Suitcases on Bristol Bridge, 24-Year-Old Arrested
Kate Middleton to Attend Wimbledon Men's Final Amid Cancer Recovery
Russia's Electronic Warfare Neutralizes Western Weapons in Ukraine
Trump Challenges Biden to Debate and Golf Match
Macron Accuses Israeli Minister of Election Interference
US Senator Highlights Weaknesses in Western Military Industry During Ukraine Conflict
George Clooney Urges Biden to Withdraw from Presidential Race
Political Shift in the UK: A Detailed Analysis of Labour's Victory and Future Prospects
Viktor Orbán's Peace Mission: A Diplomatic Controversy in the EU
India Advocates Peace and Prosperity: PM Modi's Speech in Austria
New UK PM Keir Starmer Reaffirms Strong Support for Ukraine at NATO Summit
Spain PM Pedro Sanchez Denounces Double Standards on Gaza at NATO Summit
UK Police Arrest Suspect in Crossbow Attack After Three Women Killed
Sunita Williams Safe on ISS, to Address Earth on July 10
Biden Affirms Commitment To Presidential Race
France Faces Political Turmoil and Airport Strikes Ahead of Paris Olympics 2024
Putin Hosts PM Modi for a Private Meeting
TSMC: The Taiwanese Chip Giant Valued Over $1 Trillion
Boeing Pleads Guilty Over 737 MAX Crashes
2024 Predicted to Be World's Hottest Year
Iran's President-Elect Masoud Pezeshkian Reiterates Support for Hezbollah
White House Denies Biden Being Treated for Parkinson's Disease
Biden to Meet New UK Prime Minister Keir Starmer
Biden Insists on Continuing Presidential Race Amid Criticism
UK Defence Minister Pledges Enhanced Support to Ukraine
French Prime Minister Gabriel Attal Resigns After Election Setback
Macron Faces New Political Challenges Despite Election Relief
France's Far-Right Falls Short in Parliamentary Elections
Key Figures in France's Left-Wing New Popular Front Bloc
England Reaches Euro 2024 Semifinals After Penalty Shootout Win
Rishi Sunak Apologizes After Historic Tory Defeat
Voter Discontent in Recent UK and French Elections
Trump was recorded attacking Biden: "I kicked the old pile of shit"
Understanding the MRP Method in UK Elections
US Officials Resign Over Biden's Gaza Policy
First-Time Immigrant Voters Aim to Influence UK Elections 2024
Reform UK Receives Major Donations from Brexit Campaign Group
Tata Steel Strike Called Off, Paving the Way for Crucial Talks
Sir Keir Starmer's Acceptance of Substantial Gifts from UK Donors
New Zealand Introduces Law to Make Tech Giants Pay for News
NASA Astronauts Stranded in Space Due to Boeing's Starliner Issues
OpenAI and Microsoft Sued for Copyright Infringement
Starmer Vows to Renegotiate Brexit Deal Amid Far-Right Rise in France
Monster Hurricane Beryl Hits Caribbean as Category Five Storm
EU Charges Meta with Breaching Antitrust Rules
Biden's Debate Performance Unites Democrats and Republicans
Prison Officer Faces Court Over Inmate Sex Video
Jude Bellingham's Iconic Euro 2024 Goal: A Historic Moment for England