Cracking down on tax evasion
Guernsey’s Income Tax Department is cracking down on tax evasion.
Islanders who haven’t declared interest they’ve received from the bank in past tax forms they’ve handed in, are being given more time to come forward with the details.
If they don’t come forward and correct any discrepancies before the 31st March 2015, an investigation could be launched into their tax affairs.
Rob Gray, Director of Income Tax, said: “Tax Evasion is a crime, but it is sometimes rationalised as harmless because it is only the ‘taxman’ that is suffering.
“That is not true. Every tax evader cheats every honest taxpayer in the Island – including his own family and friends – because tax revenues are used to fund vital public services such as health, education and public and social welfare.
“It is vital, therefore, for the social and economic well-being of the island, that the Income Tax Office does all that it can to make it harder and harder for tax evaders to continue to escape detection.”