The Bureau of Revenue, Customs and Taxation of the Ministry of Finance made the announcement on Tuesday.
The tax amnesty is eligible to taxpayers who were either behind on or owed taxes for periods prior to Dec. 31, 2008. Vice President and Minister of Finance Kerai Mariur said that “ Palau taxpayers who already have agreements to pay taxes with the Ministry of Finance may request that the terms of their agreements be reviewed by the Ministry of Finance for possible eligibility under the 2009 Tax Amnesty Program. Eligible Palau taxpayers who comply with the guidelines for the 2009 Tax Amnesty Program may benefit from the Minister’s ability to compromise claims, interest and penalties.”Mariur said Palau taxpayers who owe taxes to the government is strongly urged to take advantage of this program. The 2009 Tax Amnesty Program expires on August 20, 2009.After August 21, 2009, Palau taxpayers who have failed to file a tax return, or who have failed to pay taxes due and owing, or who have failed to make arrangements satisfactory with the Ministry of Finance to pay taxes due or owing, or who have breached the terms of their agreements with the Ministry of Finance to pay their taxes, shall have their business license (s) suspended, and will be assessed all applicable interest and penalties permitted under the law. There will be no exceptions granted.
