MINISTER of Finance and Treasury Hon Gordon Darcy Lilo says he will not consider any exemption applications submitted directly to his office.
The Finance Minister issued the statement to advise the public and business communities seeking discretionary tax exemptions.
Minister Lilo advised that all exemption requests must be lodged using the prescribed application form to the Revenue and Customs Exemption Committee.
He said it is the mandated body responsible for reviewing discretionary tax and duty exemptions and providing recommendations to the Minister of Finance and Treasury.
“This measure ensures transparency, consistency, and adherence to established procedures in the handling of tax exemption requests,” he said.
The Finance Minister emphasized that applications submitted outside of this process will not be entertained.
“Applicants are therefore strongly encouraged to obtain the prescribed form and follow the legitimate submission process to avoid delays or rejection of their requests,” Minister Lilo said.
The Finance Minister acknowledged the importance of tax incentives in attracting investment, growth, and development.
However, these incentives must be considered in the context of national interest and fairness to businesses and the economy.
The Finance Minister advised that statutory exemptions can be facilitated through the normal process, which is through the relevant agencies, including Inland Revenue and Customs.
“Statutory exemptions apply only when the specific requirements set out in the legislation are met and as a matter of process, determining whether those requirements are met is a matter for Inland Revenue and Customs,” he said.
For further information on the exemption application process, please contact the Revenue and Customs Exemption Committee Secretariat at the Ministry of Finance. –
