The Inland Revenue Division (IRD), Grenada Tourism Authority (GTA) and the Royal Grenada Police Force (RGPF) are working closely together to ensure the safety of persons who rent motor vehicles.
During recent meetings to discuss a number of problematic areas in the motor vehicle industry, the stakeholders have decided to put their efforts together to lift the standard of operations in that sector and to improve compliance.
The Motor Vehicle Rental Services business is included in the GTA Act of 2013 as a tourism enterprise, in which operators in this sector are obligated to make an application to the GTA to be registered and licensed to operate.
The application requires the person to obtain a Tax Identification Number (TIN) from the Inland Revenue Division as a prerequisite for the approval of the license.
The IRD reiterates that ALL businesses in Grenada including persons operating motor vehicle rentals are legally obligated to be registered with the Inland Revenue Division for Tax purposes.
According to the Tax Administration Act of 2016, failure to register with the IRD has a penalty of two thousand, five hundred dollars ($2,500).
The IRD continues to encourage greater taxpayer compliance and will enforce the tax laws, with the support of the RGPF to ensure tax compliance by the General Public.