St. George's,
Grenada, Wednesday March 3rd,
2010:
Businesses are hereby informed
that they can commence making
VAT payments at the VAT Office
for the month of February, 2010.
Payments must be accompanied by
a completed VAT Return and must
be submitted by the 22nd
March 2010.
The
Ministry reiterates that Failure
to submit a VAT Return by March
22, 2010 will result in a late
filing fee of $10,000, a late
payment fee of 20% of the
outstanding tax liability and
interest of 1.5% per month or
part thereof.
Taxpayers are therefore
encouraged to file and pay no
later than 22nd
March, 2010 to avoid any
penalties and interest
associated with late payment.
