There is an estimated $40 million in outstanding property taxes that have yet to be paid to the income tax department here in St. Vincent and the Grenadines.
This is according to Comptroller of the Inland Revenue Department, Kelvin Pompey, who, in an interview with the Agency For Public Information (API), said that the department will now be targeting persons with specific actions. He said employees who have outstanding tax payments, after being contacted and informed, the action of garnishing salaries to recover those outstanding payments will be taken.
Mr. Pompey said this action will commence from April 1st 2024.
In addition to these measures, for business property owners receiving rent, rents will be garnished until outstanding property taxes are recovered. The Comptrollers outlined that Directors and Principal officers will be held responsible for outstanding arrears and ultimately there will be a move towards seizing assets to recover outstanding amounts.
The Inland Revenue Department’s Comptroller said that measures like these are necessary to demonstrate that there are consequences to non-compliance for property taxes.
He further advised Vincentians with outstanding property taxes to contact the Inland Revenue Department to discuss how they may bring their accounts up to date as well as how they may benefit from a possible interest waiver arrangement or a flexible payment option all with the aim to ensure compliance.
