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Grenada's Inland Revenue Division is consulting taxpayers on the recently implemented Tax Administration Act and seeking feedback on its Draft Compliance Strategy to be implemented in early 2017.
The new Tax Administration Act, which took effect on May 1, 2016, is said to harmonize and simplify the operations of the tax administration and the procedures for complying with Grenada's tax laws.
The Draft Compliance Strategy aims to improve compliance rates and assure equity in the tax system. The Strategy is intended to support the territory Government's fiscal agenda and make the best use of limited resources.
The Inland Revenue Division has already held consultations with the territory's Accounting Association, members of the Chamber of Commerce, and insurance companies. Further sessions are being planned for a wide cross section of stakeholder groups, including those in the islands of Carriacou and Petite Martinique.
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