The initiative is intended to ease the financial pressure on individuals and businesses while encouraging compliance with tax obligations.

Speaking on the extension, Felicia Ellie, Acting Comptroller of the Inland Revenue Department, emphasised the expanded benefits under this latest phase of the program.

“Now, in the initial phase of the amnesty, the penalties and the interest were waived up to the income year 2021. But for this extension, it now covers the period up to December 31, 2023. That’s something that we have to make clear,” Ellie explained.

Under the program, taxpayers must still pay their core tax obligations, but 100% of penalties and interest will be waived for eligible years.

“The tax has to be paid. What a taxpayer gets relief on is the penalty and the interest. So there’s no penalty, no interest, but the raw tax has to be settled,” she reiterated.

Ellie further warned that once the amnesty expires, all remaining balances, including penalties, interest, and taxes, will remain on the taxpayer’s account with no further relief available. The department will then move forward with recovery efforts.

“As a department, we are just asking again that you take the opportunity that is there at this point to come in to settle your taxes. You don’t have to worry about the penalty and the interest for the years up to 2023,” she urged.

Taxpayers are advised to contact the department directly for account queries or to make payment arrangements.