PRESS RELEASE – The Inland Revenue Department (IRD) is currently undertaking a major reform initiative which encompasses a review of its processes, procedures and operational structure with the aim of providing taxpayers with more efficient and timely service.
The main objectives of IRD’s reform programme are to:
enhance taxpayer service and compliance;
re-organize the IRD along functional lines;
strengthen strategic design, planning and monitoring functions;
segment the taxpayer population by establishing a Large and Medium taxpayer section and Small and Micro taxpayer section to better serve the needs of each segment;
integrate the administration of the VAT section into the operations of mainstream IRD ;
Effective Monday, July 13, 2015 the IRD will implement it’s first phase of the two year initiative with the establishment of the Large and Medium Taxpayer Section i.e all taxpayers with revenue of $400,000 and above.
This new Section will be located in the building on Manoel Street which currently houses the VAT Section and will comprise the following functional areas – Taxpayers Services, Audit, Collections & Enforcements and Late Non-Filers & Enforcements, and will be responsible for all tax types (excluding property tax).
All other taxpayers will be managed by the Small & Micro Taxpayer Section which will be housed at the IRD office (Heraldine Rock Building) on the Waterfront.
The reform program will create the foundation for:
Additional opportunities and will permit the department to create new operational synergies;
Enhanced professionalism and improved taxpayer service;
Increased compliance and equity;
Simpler processes for the taxpayer and the administration resulting in easier interaction with the taxpayer ;
Better resource management. Overall administration costs will be reduced as duplicated processes are eliminated;
Positive impact on our country and its fiscal strategy;
We will be contacting all identified large and medium taxpayers, during the months of July and August 2015, to provide further advice and guidance.
The modernization of any large entity is a challenge and will require time and patience as new processes and operation procedures are implemented. We solicit our stakeholders’ continued understanding and support as we move our tax administration towards a sustainable, well functioning operation in line with international best practices.