The Min­is­ter of Fi­nance, Colm Im­bert, MP, has ad­vised that the Tax Amnesty and Na­tion­al In­sur­ance Amnesty in­tro­duced by the Fi­nance Act 2024, which ex­pired on De­cem­ber 31, 2024, will be ex­tend­ed to Jan­u­ary 31, 2025.

In this re­gard, the nec­es­sary Or­ders to ex­tend the dead­line will be pub­lished by to­mor­row, Fri­day, Jan­u­ary 3, 2025, and be retroac­tive to De­cem­ber 31, 2024.

In a me­dia re­lease, the Min­istry of Fi­nance re­mind­ed the pub­lic that the ex­tend­ed Tax Amnesty cov­ers penal­ties and in­ter­est in re­la­tion to the fol­low­ing un­paid tax­es for pre­vi­ous years and the year of in­come end­ing De­cem­ber 31, 2023:

• In­di­vid­ual In­come Tax

• Gam­ing Amuse­ment Tax

• Pay-as-You Earn (PAYE)

• With­hold­ing Tax

• Health Sur­charge

• Ho­tel Ac­com­mo­da­tion Tax

• Cor­po­ra­tion Tax

• Club Gam­ing Tax

• Busi­ness Levy

• In­sur­ance Pre­mi­um Tax

• Green Fund Levy

• Tax on Fi­nan­cial Ser­vices

• Val­ue Added Tax (VAT)

• Pe­tro­le­um Prof­its Tax (PPT)

• Sup­ple­men­tal Pe­tro­le­um Tax (SPT)

• Un­em­ploy­ment Levy

• Stamp Du­ty

The Min­istry said the ex­tend­ed Tax Amnesty al­so cov­ers penal­ties and in­ter­est for un­paid Prop­er­ty Tax­es for 2024, which are now due and payable on or be­fore Jan­u­ary 31, 2025.

It said fur­ther, the Na­tion­al In­sur­ance Amnesty cov­ers all in­ter­est and penal­ties out­stand­ing on con­tri­bu­tions paid pri­or to Oc­to­ber 1, 2024, and in­ter­est and penal­ties on any con­tri­bu­tions out­stand­ing as of Sep­tem­ber 2024, where the con­tri­bu­tion is paid dur­ing the pe­ri­od Oc­to­ber 1, 2024, to De­cem­ber 31, 2024.

How­ev­er, the NIS Amnesty ap­plies on­ly to em­ploy­ers reg­is­tered with the Na­tion­al In­sur­ance Board pri­or to Oc­to­ber 1, 2024.

It al­so ex­plained that where a tax­pay­er/em­ploy­er fails to pay his out­stand­ing tax/con­tri­bu­tions dur­ing the ex­tend­ed Tax Amnesty and Na­tion­al In­sur­ance Amnesty, i.e. on or be­fore Jan­u­ary 31, 2025, the penal­ties and in­ter­est which would have been payable in re­spect of the fail­ure to pay the tax/con­tri­bu­tions shall be re­vived and be­come payable as if the waiv­er had not been grant­ed.