Commission aims to ensure foreign businesses are tax-compliant

THE Internal Revenue Commission (IRC) will have data to ensure foreign businesses and workers are tax-compliant, says Commissioner Sam Koim.
It followed the signing of a memorandum of Understanding with the Immigration and Citizenship Authority (ICA).
Koim said the information would provide the IRC the number of foreign workers in the country who are shifting money offshore without meeting their tax obligations.
He said the ICA was a strategic partner of the IRC and when it came to tax, the residency test was important for individuals or entities.
“It’s the information gap that we are looking at patching up but from there we believe that the data that we collect will translate into revenue.
“We are also work with ICA on the determination of citizenship and the checklist for applicants to check on their tax compliance status and also the departure prohibition notices.
“So if someone owes us tax and is about to leave the country, we can issue a notice that prevents them exiting.
“ICA can implement it on the spot or if you owe taxes and you want to take an overseas trip then we can prevent you from going offshore.”
Acting chief immigration officer Robert Kennedy said the ICA had been conducting operations in the provinces where foreign businesses operated.