BearingPoint Caribbean and C2D implement Integrated Tax Administration System for Grenada’s Inland Revenue Department
In September 2022, BearingPoint Caribbean, in partnership with C2D, began the implementation of an Integrated Tax Administration System (ITAS) for the Inland Revenue Department (IRD) of Grenada. As countries continue to recover from the pandemic, it is crucial for governments to address any revenue leakage.
The IRD of Grenada is leading this change, ensuring that inefficiencies in systems and processes are effectively resolved to collect revenue.
Benefits of the ITAS for Grenada’s Inland Revenue Department and taxpayers
The ITAS implementation will bring several benefits to the Inland Revenue Department of Grenada and taxpayers. With the MTS, taxpayers will have access to a user-friendly online platform that will enable them to file their taxes, make payments, and view their tax accounts.
The new system will also allow the IRD to improve its tax administration processes, reduce the time and costs associated with manual processes, and enhance the accuracy of tax data. By implementing an ITAS, Grenada’s Inland Revenue Department will be better equipped to collect taxes, reduce tax evasion, and increase tax compliance.
The implementation is being phased in multiple releases, allowing for proper analysis, development, and testing before the IRD uses the released modules. Each release covers different modules (e.g., taxpayer registration, certain tax types), which are carefully planned out after internal and external discussions with the client.
Once each release is ready, a period of Acceptance Testing (AT) is conducted.
During the AT sessions of the first release, our colleagues, Dénie Wolf and Peter-Paul Grootens, together with Meriem Lahrichi of C2D, joined the IRD in person to provide an overview of the MTS, a collaborative demo of the modules, and on-site training and support while the customer tested the functionalities.
These sessions are pivotal to ensure that the MTS is set up properly, with the correct business rules configured, and knowledge transferred to the IRD.
Multi Tax Solution (MTS) aims to increase tax compliance
With the Multi Tax Solution (MTS), the Inland Revenue Department of Grenada aims to collect more tax revenues by increasing tax compliance.
MTS offers tax administrations a platform for managing all aspects of tax administration, from tax levying and collection to intelligent data reporting. It helps the people in charge of taxes do their job better. It makes everything easier and faster, from collecting taxes to reporting how much money was collected.
It’s a modern and flexible solution that streamlines tax operations and offers an e-services portal for taxpayers to file tax returns and pay taxes online. The solution is suitable for all tax types and adheres to the highest industry standards. It enables clients to offer superior service at a lower cost of operations, and has been proven to increase tax compliance, resulting in higher government revenue, therefore the chance to develop their countries at higher rates.
At BearingPoint Caribbean, we understand the importance of taxes as a key source of government revenue for funding public initiatives. To achieve this, enhancing the efficiency within the Grenada’s IRD and providing an improved eServices experience for taxpayers are vital.
The Multi Tax Solution offers a sustainable method for tax administrations to increase government income without raising taxes or making unproductive cuts in key priorities such as education and healthcare.
Implementation of ITAS for Grenada’s Inland Revenue Department is a significant milestone
BearingPoint Caribbean has extensive experience in implementing ITAS for tax administrations across the Caribbean. Our team has a deep understanding of the challenges and complexities involved in implementing such systems and has a proven track record of delivering successful projects. We work closely with our clients to ensure that their specific requirements are met, and their expectations are exceeded. Our team of experts provides end-to-end support, from project planning to post-implementation support, to ensure that our clients’ ITAS implementations are successful.
Collaboration and commitment of all stakeholders is crucial for success.
The implementation of an ITAS for the Inland Revenue Department of Grenada is a significant milestone in enhancing tax compliance and increased tax revenue collection.
The implementation of an ITAS for the Inland Revenue Department of Grenada is a significant milestone in enhancing tax compliance and increased tax revenue collection. As we continue with the phased releases of the MTS, it is crucial to note that the project’s success relies heavily on the collaboration and commitment of all stakeholders involved.
BearingPoint and C2D will continue to work closely with the IRD of Grenada to ensure a seamless implementation and that all modules are rolled out as planned.
Our team remains committed to delivering a system that not only meets but exceeds the IRD’s requirements and expectations.
We look forward to a successful implementation and continued partnership with the Inland Revenue Department of Grenada, as together, we pave the way for a better tomorrow.