Amnesty yields €32.4m in overdue tax

G. Camilleri

Mar 9th 2010, 10:51

Whilst WSC/Enemalta - late payments -- consumers charged with an interest payment of 6% per annum

Tax and Vat refund due by Government - interest on the amount is 1% per month, that is
12% per annum until this is paid by the Government

Paul Pace

Mar 9th 2010, 10:24

@ r pace
The rate of interest according to the IRD is 0.75% per month which means 9% per annum.
The interest is no consolation for persons who needs the money so desperately. Most pensioners their income depends on the interest/devidends receivable. Deducting 35% tax at source is too hard more and more when no refund is paid when due.

Gianninu Saliba

Mar 9th 2010, 09:16

To all the lejber supporters who had something negative to say about this article, I only say one word: "Lanzit".

m.baldacchino

Mar 9th 2010, 08:14

I'm still waiting for my tax return of 2007. maybe now the govt will pay me!

Kevin Taliana

Mar 9th 2010, 01:35

@Anthony Mizzi
The amnesty was 90% off the PENALTIES incurred for late submission, so no overdue tax is actually being discounted, just the penalties.

Tonio Bone

Mar 8th 2010, 23:48

@ Anthony Mizzi
A large percentage of the Euro 600 million initially said to be owed to the I.R. were estimates and interest on estimates which the I.R. super computer generates automatically, even to persons that died years ago.
The amnesty was more a means to bring I.R. records back in order and it is probable that the amount collected represents the true figure owed to the I.R.
Evation is a desease which will never be eradicated, but let's not mix facts here. I remember the PN critisizing the old ex officio methods of days-gone-by Labour Government. The vast majority of the money presumably owed to the I.R. coffers in this instance were estimates and interest on the same estimates. A polite form of ex officio if you wish!

Dominic Chircop

Mar 8th 2010, 21:07

Rather than comments from political hotheads, it would be interesting to know how much of the 32 million refer to pre-1999, and post-1999.

But as usual, those who have sold their mind to political parties betray a lack of coherence.

Now the time is ripe to go one step further, and write off all uncollectible pre-1999 tax. I am sure that the Hon. Minister of Finance knows the exact amount of thse "book debts". These hail from the ex-ufficio times of Dom Mintoff, and went on ballooning under the estimated tax of subsequent administrations.

r pace

Mar 8th 2010, 20:31

so now we can wait for the postman to hand us the overpaid tax including interest....hmm hmm is it 1% or 6%? Maybe the Finance Ministry can raise the interest to 6% just like WSC/Enemalta will be charging late payers....but no, this is asking for too much!

Anthony Grech

Mar 8th 2010, 20:23

It is funny because if you actually want to report someone who you know is defrauding the state, ie not giving VAT receipts, it is very hard to do. There is not a single place on their website to report fraud! You want to bring in some cash into the government? Let people turn in the cheats. I would love to know who I can contact regarding fraud any help out there?

Paul Pace

Mar 8th 2010, 19:29

I wish to ask the minister, why it is taking so long to settle the tax due as refunds to taxpayers, I am one of them, for the tax paid at source from my dividends earned. Kaxxa vojta forsi? Perhaps, now this €32.4m will be used to pay taxpayers whose tax was deducted at 35% from their dividends straight away. This is the first time that I haven't been paid by the end of the year.

Anthony Mizzi

Mar 8th 2010, 19:15

And a saving of the same amount to tax defaulters! No Grace or benefits to prompt settlers. Wonder who the lucky guys are and who had thousands of Euros in savings per capita ....