The government's point man on value-added tax (VAT) said the agency designed to administer the new tax is on course to be up and running in time for VAT.
Speaking with NB12, Financial Secretary John Rolle noted that the Central Revenue Agency (CRA), which the government hopes will eventually administer its VAT, business license, and real property tax departments, was still in the works and would begin operations as early as January 1, 2015.
"The Central Revenue Agency is a process that's [moving along] well, there's no pause to that process. The [CRA] as you will know it will be VAT, business licenses and property tax. They are all going to be operating out of the same facilities as early as January.
"So in terms of them becoming more integrated, that is a process that all of the staff who work in those operations will see very visibly in January," stated Rolle.
He added that the VAT and business license departments will specifically be closely integrated following the establishment of the CRA.
"Right now there's work to make changes to the business license systems in process," he said.
"Business licensing is going to operate on the same platform as VAT... so we're already in the mindset in terms of staff and operations that they're going to be one."
However, Rolle did not specify when the agency would be formally completed, echoing comments made by Minister of State for Finance Michael Halkitis, who suggested last month that the government would establish the CRA "within 12 to 18 months".
"It's going to be much more than just a particular date... The CRA is a process that is happening [throughout] 2015," said Rolle.
He also addressed the government's VAT education initiatives with the private sector, claiming that the ministry is "comfortable" with the progress made ahead of January 1.
"The government has done the necessary work to select and put together the private sector education task force... We are comfortable in terms of the scheduling and the work that's ahead of us.
"Going forward we are beginning to sit down one on one with businesses and understand what their issues are and... give them guidance to move in the right direction," Rolle said.
VAT will be implemented at a rate of 7.5 percent effective January 1, 2015. The CRA, which will help administer VAT, was absent from the VAT bill tabled last month. The revised bill also eliminated the establishment of a revenue court to prosecute VAT and other tax evaders.

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