WHAT YOU NEED TO NOTE ABOUT THE WAIVER.

Are Payments made from January 2025 to June 2025 covered under the waiver?

Dear Reader,

The current waiver is another opportunity Government has given to taxpayers who have tax arrears to settle their liabilities without worrying about the burden of interest and penalty.

If the payments made between January 2025 to June 2025 relate to principal tax that was outstanding as at 30^th June 2024 then the waiver is applicable. However, if the payments relate to outstanding principal tax due after 30^th June 2024 then the waiver is not applicable.

If I have liability that relates to the period as at June 2024 but created after 30^th June 2024 or being created now, is it also covered in the waiver?

Dear Reader,

The current waiver is applicable to outstanding interest and penalty that relate to principal tax due by 30^th June 2024. This means that a liability created after 30^th June 2024 or created now, but its due date was 30^th June 2024 or prior, is covered by the waiver.

How do you treat taxpayers who filed returns with zero principal or offset for LED and VAT for the periods as at 30/06/2024, since the returns came in late and accrued penalties for late filing? Is this scenario covered under the waiver?

Dear Reader,

The current waiver is applicable to outstanding interest and penalty that relate to principal tax due by 30^th June 2024. Where the principal tax is nil or an offset, the waiver of outstanding interest and penalty is still applicable.

I filed my VAT Monthly Return for June 2024, on the 10^th of September 2024. Will this still be covered under the current waiver?

Dear Reader,

The due date for the June 2024 VAT return is 15^th July 2024, which is outside the period covered by the waiver. Therefore, you are encouraged to pay the outstanding penalty and interest to avoid further accumulation of interest on the unpaid tax.

I submitted my return for January to December 2023 by 30^th June 2024. Is this liability and penalty covered under the waiver?

Dear Reader,

The current waiver is applicable to interest and penalty outstanding as at 30^th June 2024, where the principal tax is paid by 30^th June 2026.

However, where a person pays only a part of the principal tax, the waiver of interest and penalty will be what relates to the portion of the principal tax paid. 

Please note that the waiver does not cover the principal liability but rather the outstanding interest and penalty.

You are therefore encouraged to fully pay your principal tax by 30^th June 2026 in order to benefit from the waiver.

I applied to URA to pay my liability in installments and this was granted. How do I benefit from the current waiver?

Dear Reader,

The current waiver is applicable to interest and penalty outstanding as at 30^th June 2024, where the principal tax is paid by 30^th June 2026.

Where the principal tax is fully paid through instalments by 30^th June 2026, the outstanding interest and penalty due as at 30^th June 2024 shall be waived in full.

However, where instalment payments only cover part of the principal tax outstanding as at 30^th June 2024, only the portion of interest and penalty which relates to the principal tax paid shall be waived.

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