MARIGOT–President Aline Hanson has notified the population that the 2015 income tax returns are now due, and tax payers will be receiving the declaration forms in their mail boxes this week
The deadline to submit tax declarations is May 31, and assessments will be issued at the end of August, with payments to be made in September 2016.
Hanson appealed to all residents to abide by their civic duty to pay tax. With a recovery rate of only 55 per cent, the State services still have a lot of work to do to get anywhere near the national average of 98 per cent.
She noted, however, an increase in tax revenue of 3.4 million euros over the year before, but reminded that as of December 31, 2015, there were 13,000 persons who evaded paying tax, an amount of 21 million euros owed to the Collectivité.
“Only two residents in ten are paying tax. Everyone must participate. You cannot take advantage of St. Martin without paying anything,” she stressed.
Hanson indicated 17,000 households fulfilled their reporting obligations for 2014.
“Apart from a revaluation of tax brackets to take inflation into account, a measure that is applicable to you, only a few changes will be noticeable in comparison to past years,” she explained.
“The Territorial Council decided to maintain the current tax reduction of 40 per cent. In addition, all tax reductions will remain unchanged, in particular those that are in favour of families and those interested in acquiring a primary residence or rental housing.
“Only non-residents with all or most of their income derived in St. Martin will eventually see their situation change. In the interest of fairness, their taxes will be calculated on the same terms as those persons having their tax domicile in St. Martin.”
Revenue from income tax allows the Collectivité to generate resources needed to finance essential investments. These include renovation of primary schools and high schools, rehabilitation and beautification of roads, financing studies for new road schemes, continuing the renovation of sports facilities, constructing a new cultural centre in Grand Case, construction of facilities for fishermen, creation of a craft village in Cul-de-Sac, and much more.
The public can get advice and help with filling out the forms as of May 2 at the tax office in the Santa Monica Building, Rue Marécage, Concordia, on Monday, Tuesday and Thursday, from 8:00am to 12:00pm, and from 2:00pm to 4:00pm. Also on Wednesdays and Fridays, from 8:00am to 12:00pm.
Assistance will also be available locally for persons in Sandy Ground, Grand Case and French Quarter.
Source: Daily Herald https://www.thedailyherald.sx/islands/57033-2015-income-tax-returns-due-by-may-31-at-latest
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