ECONOMY

Deadline for tax statements gets extension to mid-June

The Finance Ministry confirmed on Wednesday the extension to deadlines for the submission of 2011 income statements, asking all taxpayers to have them submitted by June 15. The deadline for online submissions of property ownership statements will be July 31.

Usually the time limit for the submission of income statements is in May for the majority of taxpayers, but the lack of the appropriate forms and the delay in the issuance of the guidelines booklet have led to deadlines being put back, which may have a bearing on this year?s budget revenues.

The ministry stated on Wednesday that the process of printing the new tax forms is currently in its final phase.

Meanwhile the General Secretariat for Information Systems erroneously sent a note to some 60,000 taxpayers a few days ago inviting them to settle debts that they did not have.

The GSIS realized its mistake and issued a letter of apology late on Tuesday, asking recipients to ignore the note.