PHILIPSBURG:— Minister of Finance Richard Sr. confirmed on Wednesday when asked by SMN News what he intends to do with the procedure former Minister of Finance Roland Tuitt started in 2013.
Minister Gibson said in 2013 the former Minister issued a decree instructing the tax receiver’s office not to collect taxes for the years 2006 and backwards because those taxes are no longer collectable. He said the former Minister took that measure anticipating that the necessary legislation would be filed in order to make the instructions fully legal.
However, that procedure was never completed, therefore he (Gibson) intends to prepare the legislations and take it to the Council of Ministers and Parliament, even though the instructions given by the former Minister still stands. He said that the only thing that still happens is that even though the receiver’s office is not collecting taxes prior to 2006, they still have the right to take revenues they see belonging to a business or person and apply it to the back taxes they owe.
He said that while the taxes are no longer collectible his intention is to get the necessary legislation’s in place.
Source: St. Martin News Network
Minister of Finance to finalize process on tax write-off — says procedure was not finalized by former Minister Tuitt.