Friday, July 01, 2005

Government hopes to clear tax assessment backlog

The Government expects to give out more tax refunds during this financial year as it makes a concerted effort to catch up with arrears in personal tax assessments, the Chief Minister said in his speech to the House of Assembly’s budget session on Tuesday.

Chief Minister Peter Caruana raised the issue while replying to Opposition questions about why the government was estimating a smaller increase in revenue on income tax than might otherwise be expected.

“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.

“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.”

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