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Pay your taxes or lose your properties –Municipal tax amnesty

Dec 04, 2021 News

Kaieteur News – Individuals, companies, trusts or partnerships that fail to pay outstanding rates shall be subjected to Pirate Execution. This is stated in the new Municipal Tax Amnesty policy, which took effect from yesterday up until March 31, 2022. Pirate execution is a practical foreclosure provision in procedural law, which allows the sale of mortgaged properties, without going through legal and formal court proceedings.
The Mayor and City Council yesterday launched this Municipal Tax Amnesty policy, which aims to forgive the tax liabilities of ratepayers for a limited period. This period started on December 3, 2021 and will conclude on March 31, 2022. During this time, ratepayers will be required to pay a specific amount.
The City Mayor, Ubraj Narine, during a press briefing stated that the purpose of this policy is to benefit those who have been outstanding tax defaulters for years and is intended to provide a helpful avenue to ratepayers pursuant to the Municipality District Council Act.
The mayor advised the business sector, along with residents, to take advantage of the amnesty, and he made reference to the fact that individuals or organisations who are granted a tax amnesty for this year will not be eligible for another amnesty within the next five years.
This publication previously reported that the mayor, during an interview, stressed the fact that revenue collection for the city is a decade-old issue that needs to be fixed. The council’s annual budget is about $2.2 billion, while its revenue collection is around $700 to $800 million per year, which in the mayor’s opinion, can’t even manage the city.

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