The Inland Revenue Division of the Ministry of Finance and Treasury launched a new program of information seminars last Thursday to meet the growing demand by new small businesses.

Acting Commissioner of IRD, Andrew Minto said the number of new locally owned businesses registering for tax with Inland Revenue has been increasing.

"It is pleasing to see the number of new businesses starting up and we are also very pleased to see that those businesses that may not have previously registered are also now doing so".

He said planning to meet business tax obligations is very important.

"If you take the time to understand your obligations you can plan for them and avoid unnecessary problems in the future. We are here to help you do that - and that is why we have started this new initiative" A/g Commissioner Minto said.

Team leader Mr Brian Osifelo said that "the seminars are designed to help new businesses understand their tax obligations so that they can improve their financial planning which is an essential part of running a successful business."

"Our first seminar was a great success. We had a range of people attending who are now more confident with their tax obligations. Feedback from those who attended the seminar was very positive and we will now be offering more seminars and expanding the range of products and support services that we provide into 2009." Mr Osifelo said.

The new program of seminars will continue in 2009 and all businesses are welcome to register with Inland Revenue to attend a seminar.

"We would also be happy to talk to people who are thinking of starting up a new business - it is important that people take tax obligations into account when considering the likely success of a new business venture" said Mr Osifelo

The next seminar on Friday 7 November will be for those businesses in the construction industry.

To register for this seminar or express your interest in future seminars you can contact Mr Brian Osifelo at Inland Revenue on 28506.

Press Release (Government Communications Unit)