The Gibraltar government is expecting to hand out more in tax refunds this year as it attempts to catch up with arrears in personal tax assessments, according to Chief Minister Peter Caruana.
“The [tax] department wants to catch up with assessments and get away from this situation where assessments are always a few years in arrears, so that historically people who have overpaid tax and are due a refund actually wait several years to receive it,” Mr Caruana told the House of Assembly during a budget hearing last week.
Caruana was responding to questions from the Opposition as to why the government was anticipating a smaller than expected increase in revenues from income tax.
“We don’t think that that is fair and the department is under instructions to try and bring that situation up to date, and that may cost some revenue," he added.
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