PHILIPSBURG:--- On Friday October 10, 2014, the management of Benjamin & Parker Corporation,(www.b-parker.com) observed a very compromising situation for the SXM taxpayer in 2015. In the press release by the General Audit Chamber it is mentioned that the SXM tax office is not compliant with the expected or recommended workflows, and in addition the tax revenues levels 2014 are not expected to be achieved, which is very devastating news for the SXM tax payer.
Tax Revenues are not aligned with the Approved National Budget, represent that at year end 2015, Tax Office must meet the collection expectations 2015, and take necessary actions to eliminate the deficit in tax collection of 2014 by harsh tax recovery practices while applying reinforcement to the 2015 tax collection measures.
Inefficient workflows, non compliant of tax collection 2014, CFT recommendations are ingredients for a financial catabolism in the business community. In June 2014 B-Parker outlined several conditions that the SXM taxpayers may confront, and after examination of the contents of the press release of the General Audit Chamber, we conclude that the materialization of the predicted taxation actions is in sight.
Benjamin & Parker, is aware that the business community does not receive sufficient information from the Tax authorities, but we feel the obligation to disclose the contents of article 13 sub 4 of the National Tax Ordinance:
"If insufficient tax is levied on the income component of the subject, that for taxation reasons has been held in foreign soil or is has been accrued, notwithstanding the third paragraph, first sentence expires, the Inspector regains authority to recover taxation income going as far back as a period of fifteen years after the time at which the tax debt arose"
The problem within this law is that the Tax office will use specific argumentations to re-assess their taxations over a period of 15 years, by applying the "burden of proof by the taxpayer" principle. B-Parker is of the opinion that the business community and the local taxpayer are not prepared for the expected collection practices. Another very interesting condition is that the taxpayer is not informed if a "Tax payment plan transition term" will be introduced based upon the magnitude of their tax liabilities. The main collection of the Tax Department is the collection of taxes, and unfortunately many businessmen, have no clue on the taxation mechanism and its legal procedures.
B-Parker understanding this situation will be giving "Free online Tax Consultation" starting from October 13 through October 27th, and if necessary a Tax Administration Plus+ "class room course ending October 31, 2014 .
You can react to the free online consultation by emailing B-Parker at This email address is being protected from spambots. You need JavaScript enabled to view it. or through our website: www.b-parker.com/contactus / Terence Jandroep from 9:00 am - 1:00 pm from Monday through Saturday.
