FILING OF THE INTERIM STABILISATION LEVY, ESTIMATED ASSSESMENTS AND NIL RETURNS

Earlier this year, the Inland Revenue Department (IRD) launched our NEW Multi Tax Solution (MTS) and Online Portal. This involved some major changes relating to the processing of various tax types within the department.
All taxpayers with an Interim Stabilization Levy (ISL) account no longer receive a Remittance Form as a reminder to submit returns on a monthly basis. However, taxpayers are still required to complete the ISL Employer form, or Self-Employed form for the purpose of verification at IRD. These forms can be downloaded from the IRD’s Website at www.ird.gov.ai, or collected from the department. For your convenience, a Tax Calendar is also provided which outlines the due dates for each ISL return period.
All taxpayers are required to file their returns on time, whether you are filing below the threshold amount of EC$2000.00 “NIL”, or above. All taxpayers are also required to state a gross amount, or salary amount on their returns. We can no longer accept “NIL” as a returned amount.

Please be advised that if a taxpayer neglects to file by the due date, an estimated assessment will be automatically generated and sent to the taxpayer. The estimated amount may be higher than what you may file on a monthly basis. However, if you subsequently file your actual tax return, another assessment will be generated which will replace the estimated assessment. If a taxpayer fails to do so, the account will incur interest and penalties based on the estimated amount outstanding. An estimated assessment will also apply to taxpayers filing a return less than the threshold amount “NIL”.

All taxpayers whether filing revenue or NIL will incur a penalty of EC$50.00 per day. Additionally, 1% interest per month will be accrued on outstanding balances when payments are not received in full by the due date.
The Inland Revenue Department has modernized our environment to provide convenient and efficient service to our taxpayers. We encourage you to visit services.gov.ai. to register for access to the portal where you can easily stay up to date with information, manage all your tax affairs and file and upload your returns at your leisure.
The Management of the Inland Revenue Department has extended a grace period for all taxpayers who usually file below the threshold amount of EC$2,000.00 “NIL” to come into the department before 31st December 2021 to ensure that their ISL returns have been filed for the entire year, and accounts are up to date. There will be no exemptions of penalties for persons submitting a NIL return as of 1st January 2022.