Income tax amnesty brings in £2.4m.
Guernsey tax evaders and avoiders paid up £2.4m. during a three-month amnesty last year, it has been revealed.
Guernsey tax evaders and avoiders paid up £2.4m. during a three-month amnesty last year, it has been revealed.
And Income Tax has acknowledged that 'it would be naive' to believe that there was not a significant amount of money still outstanding.
Income Tax has therefore decided to toughen fines to come down hard on individuals and businesses now caught owing tax who did not take up the amnesty opportunity.
The law governing penalties has been changed so that anyone who is discovered to have made an incorrect or incomplete return for calendar years prior to 2011 can now expect to pay a minimum penalty equivalent to the amount of the tax evaded.
It has been revealed that 153 registrations were made under the Income Tax Irregularities Scheme, including by eight companies.
Income Tax director Rob Gray believed the scheme had been a success.