Taxpayers have a few more days to file their income tax without incurring a penalty.
This disclosure came today from Revenue Commissioner, Margaret Sivers, who said this year???s tax filing period has been extended to Wednesday, May 7.
Ms. Sivers explained: ???During the transition period to the Barbados Revenue Authority, there were a few days when the system was not accessible to taxpayers, in addition there was the Easter weekend and Heroes Day when the public would not have been able to access our employees for any assistance. We, therefore, felt that an extension was warranted to enable taxpayers to have the full benefit of a month to complete their tax returns.???
However, she urged those who have not yet filed to do so immediately, pointing out that failure to deliver a return of income by the specific date or to estimate the tax payable would incur a penalty of $500 and five per cent of the tax assessed and unpaid.
Ms. Sivers continued: ???A penalty of five per cent or $10, whichever is greater, will also be applied for failure to pay the estimated tax by the deadline. In addition, interest will be payable on any unpaid tax and penalty at the rate of one per cent for each month during which they remain unpaid.???
To file online, persons should visit https://etax.ird.gov.bb and those who need assistance or additional information must contact the Customer Service Department at 430-3222, 430-3223 or 430-3224.