IRD sets final December deadlines for defaulted tax payments

The Department of Inland Revenue (IRD) has issued a notice to taxpayers, urging them to meet key deadlines for tax payments this December to avoid penalties and legal action. 

Taxpayers are reminded that the Value Added Tax (VAT) and Social Security Contribution Levy for the month of November 2024 must be paid on or before 20 December 2024.  

For those who have missed paying taxes due on their income tax returns for the assessment year 2023/2024, the deadline to settle these payments is 26 December 2024. Additionally, any unpaid self-assessment tax, arrears tax, or agreed additional assessment tax must also be paid by this date, the Commissioner General of the IRD noted.

The department has cautioned that failure to meet this deadline will result in taxpayers losing the opportunity to seek relief from penalties for these unpaid amounts.  

The Commissioner General further stated that field surveys are already underway, and legal action has been initiated under the Inland Revenue Acts to recover outstanding self-assessment and arrears taxes. 

Taxpayers are strongly advised to ensure their compliance and avoid unnecessary complications by settling their dues promptly. For assistance or further information, individuals are encouraged to reach out to the Inland Revenue Department.