The Inland Revenue Division wishes to inform the general public of the recent Value Added Tax (VAT) threshold increase, which was announced in 2016/2017 National Budget presentation. Effective 1st September, 2016, the VAT threshold will increase to $250,000 from the previous threshold amounts of $60,000 and $120,000. As such, some VAT registered businesses will no longer be required to charge and collect VAT on behalf of the Government and these businesses will be de-registered.
As a consequence the Inland Revenue Division is carrying out a de-registration process; IRD Officers will be contacting all businesses that are currently below the new threshold of $250,000.00 annual turnover. Representatives of businesses also have the option of visiting any of the IRD locations to discuss their registration status.
For further information contact:
Inland Revenue Division (IRD)
Tel: (767) 266 3600
Fax: (767) 448 1893