Amendments to the Revenue Acts
The Act introduces a series of amendments to the following legislation:
- Income Tax Act
- Income Tax Management Act
- Duty on Documents and Transfer Act
- Value Add Tax Act
As stated in Bill 199, the amendments were intended to strengthen the powers of the Commissioner for Revenue in the fight against tax evasion by giving more powers of investigation and allowing for the sharing of information, further to the recommendations made by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL).