New Filing Dates for Personal Income Tax and Corporation Tax
 
Today, the Barbados Revenue Authority announced that Taxpayers submitting Personal Income Tax returns for the income year 2019 have been granted a further filing and payment extension to Tuesday, 30th June 2020.
 
Additionally, for companies whose year end is between October and December, BRA has granted a Corporation Tax filing and payment extension from June 15th 2020 to June 30th 2020.
 
Please Contact Us at any time if you have questions or need assistance with your tax filing.

New Deadlines for PAYE, VAT & Personal Income Tax and Payment Options during COVID-19 Curfew
 
We’re keeping a close watch on government regulations during this unprecedented COVID-19 curfew & lockdown period.
 
The Barbados government has announced a number of measures to help businesses and individuals make it through this challenging time.  These include extensions to the deadlines for filing and payments for PAYE, VAT and Personal Income Tax. 
 
PAYE & VAT
The Barbados Revenue Authority (BRA) has extended deadlines for PAYE (for March) and VAT (for February & March) to 30th April 2020.  Tax payments that were due 15th April and 21st April are now extended to 30th April without penalties or interest being incurred.  The Authority has also advised that this tax filing and payment relief will be done automatically in TAMIS. Therefore, taxpayers do not need to make an application to qualify.
 
Personal Income Tax
On Friday 24th April, BRA announced that they have extended the deadline for filing 2019 personal income tax returns and making the requisite payments by one month, to Friday, 29th May 2020.  Penalties and interest on payments made after 30th April will now be deferred until the new deadline in May.
 
Although the deadline has been extended, the Authority is encouraging taxpayers whose information is available in TAMIS to file their returns and make payments as soon as possible.
 
Payment Options
While the country remains under curfew, BRA has advised there are three payment options:

Transfer Funds Online
Add Barbados Revenue Authority as a Payee through your online banking portal.
Account Name:                 Barbados Revenue Authority
Bank:                                Republic Bank
Branch:                             Broad Street
Account #:                        01831326002
Account Type:                  Chequing
Purpose of Transfer:         Government Services Payment
Note: Must include your Electronic Payment Advice (EPA) number or specifiy the tax type, tax period/tax year, and Taxpayer Identification Number (TIN).

Make Payments by Cheque & Drop in the Box
Pay to:                                    Barbados Revenue Authority
On back of Cheque:         Write your Electronic Payment Advice (EPA) number or specify the tax type, tax period/tax year and Taxpayer Identification Number (TIN).
Deposit cheques and any supporting documents in a sealed envelope into the drop box at the entrance on the 1st Floor, Weymouth Corporate Centre, Roebuck Street, Bridgetown.
Note:  There will be delays in processing payments given the requirements to limit operations as part of the response to COVID-19. Receipts will be mailed.

Make Payments by Credit Card
The Weymouth Corporate Centre and Warrens Towers II locations have been reopened to facilitate limited transactions.  This is to further enable payments in relation to PAYE, VAT and income tax during the period of the curfew.  The offices are open from 9 am to 1 pm and will follow the recommended physical distancing protocols.

For any support and assistance required with filing PAYE & VAT, and computation and filing of your personal income tax returns, please contact us.  As always, we are here to help you.