CATEGORY:ECONOMY/MONEY --------------------------- By Wallace J.A Inside Grenada correspondent Monday February 05,2007 ST. GEORGE’S, Grenada: A Recoveries and Collection Unit has been created at the Ministry of Finance. This Unit is charged with the task of collecting all arrears on Government taxes as well as to register new and potential tax payers. Five new tax collection officers have been employed with the new team in this regard. The creation of this new unit in the Finance Ministry was mentioned by Finance Minister, Hon. Anthony Boatswain, when delivering the 2007 Estimates of Revenue and Expenditure in December of 2006. It is believed that there have been loop-holes in the tax collection system and that the Government of Grenada was not in receipt of all the revenue that it should be collecting on an annual basis. The establishment of this new bureau is expected to rake in an additional EC $18 M annually. Persons who have been in arrears with the treasury will get the chance to work out a payment schedule that is acceptable to the Government as well as to the individuals concerned.