GCT Act Amended For Re-Registration Of Business Persons

• Business persons who now fall below the new General Consumption Tax (GCT) threshold and are to be deregistered as taxpayers, will have the option to apply to the Commissioner General to be re-registered.
• This is being facilitated through amendments to the GCT Act, which were approved during Friday’s (January 24) sitting of the Senate.
• Leader of Government Business in the Upper House, Hon. Kamina Johnson Smith, who piloted the Bill, informed that the amendments “are intended to give effect to the policy ensuring the voluntary registration of persons who fall below the new threshold of GCT, but who opt to remain registered taxpayers”.

(Source: JIS)