Breakfast Club- Income Tax Office

Talking Tax at the GFSB Breakfast Club

Five officials from the Tax Office attended the GFSB’s Breakfast Club seminar on 31^st May to open up face-to-face dialogue with GFSB members over a wide variety of tax issues. Hosted by the GSFB at their offices in Irish Town, the event was run as a “question and answer” session which gave members present a rare opportunity to speak to officials on issues specific to them and to their businesses. It was also a chance for officials to garner a deeper understanding of how the workings of the Tax Office directly affects small businesses.

Breakfast Club meetings are short sessions (about one and a half hours) that take place first thing in the working day, and where coffee, cereal bars, fruit and biscuits fuel the representatives of local businesses that gather to network and learn. This tax matters Q&A session was well attended by a diverse group of businesses, from sole traders to recruitment companies, larger corporations and accountancy firms.

From the Tax Office, Theresa Sanchez answered questions on matters of self-employment; Joseph Pitto was kept busy discussing regulations and requirements on company matters and corporation taxes; there was plenty to discuss for Melissa Payas and Krissanne Posso from the Social Insurance office, and Jackie Williams was able to address issues raised regarding PAYE.

The topics discussed were varied and included issues of regulation and the application of penalties. GFSB members held nothing back when discussing delays in repayments of credits by the Tax Office both to companies and individuals, and were pleased to be informed that catching up with these repayments is one of the Tax Office’s foremost objectives.

Besides answering questions and clearing up some points of confusion, this Breakfast Club seminar was also an excellent opportunity to offer suggestions for improvements that would be of benefit to small businesses and help the officials improve their working efficiencies. A move to online working and submission of tax returns and other forms via the internet was mooted as a favoured option and it was clearly communicated that going as paperless as was feasible in a tax collection environment is an important goal all round. GFSB members also suggested improvements in communications between the Tax Office and the Treasury’s arrears office.

One especially popular suggestion from members was the setting up of a Tax Office help desk, where dedicated officials could be approached to help businesses through any enquiries or some of the complexities that tax regulations sometimes appear to cause, such as the issue of sub-contractors from overseas and when and how these should be registered. Whether tackling private or company matters, such a help desk was seen as potentially useful in quickly ironing out discrepancies, confusions and problems. While suggestions would need to be passed up to senior managers in the department, the chance to express these and be heard is invaluable to Gibraltar’s small businesses.

With opportunities to learn, network and have their voices heard by those who influence the operating environment for small businesses, the GFSB Breakfast Club seminars provide practical, informative sessions for members’ benefit and are increasingly popular. Check the website: www.gfsb.gi for further information and to arrange your GFSB membership.