NEW BILLS READ IN THE LEGISLATIVE ASSEMBLY

The Tax Administration Bill 2022 and Revenue Laws (Consequential Amendments) 2022 had their first reading in the Legislative Assembly on Tuesday 22 November, 2022. 

As part of efforts to ensure inclusiveness and promote transparency and accountability the Ministry of Finance and the Montserrat Customs and Revenue Service are sharing the Bills widely to ensure that the legislation is comprehensive, and help all stakeholders develop understanding of both Bills and the subsequent Legislative Amendments.

“It has long being recognized that the administration of the main direct taxes on Montserrat is very inefficient, laborious, and outdated because of gaps in the legislation which does not always promote the timely filing of returns, formulation of assessments and generation of statistics and data,” says the Montserrat Customs and Revenue Service (MCRS).

They continue, “The introduction of the Tax Administration Bill 2022 will serve to modernize the administration of a number of Taxes and will, among other things, clarify the onus on tax payers to file their Tax Returns in a timely manner or be subjected to related penalties.”

The bill will also implement a formal requirement for the introduction a tax payers Identification mechanism such as a Tax Identification Number (TIN) among other things.

The Revenue Laws (Consequential Amendments) 2022 provides for consequential amendments to a number of Revenue Legislation to facilitate the provisions of the Tax Administration Bill 2021. The laws that will be amended are:

The documents are now available on Government of Montserrat Website for reading.

All comments, queries and suggestions can be sent via email address MCRS@gov.ms on or before December 4th 2022.  

Scroll to Top