Government Reforming Indirect Tax System

Sharon Austin Top Stories

Government has moved a step closer to reforming its indirect tax system. This disclosure has come from Director of Finance, Ian Carrington.  He said the International Monetary Fund (IMF) and the World Bank had been invited to provide the country with technical assistance by looking at its indirect taxes relative to corporate taxes, so as to bring them back into …

Barbados’ Future Must Have A Global Focus

Julia Rawlins-Bentham Top Stories

Barbadians are being encouraged to look beyond these shores and see their business as engaging the world. Prime Minister Mia Amor Mottley made this call, as she addressed the 20th Anniversary Celebrations of Cidel Bank and Trust at Sandals Royal on Monday night. She explained that Barbados’ taxation at the corporate, land and income tax levels would be significantly different …

Minister Toppin: Barbados Is OECD Compliant

Shamkoe Pilé Top Stories

Barbados is no longer under threat of a negative listing by the Organisation for Economic Co-operation and Development (OECD). Minister of International Business and Industry, Ronald Toppin, made this disclosure during an international tax conference with stakeholders in New York on Thursday. Minister Toppin said his Ministry had received confirmation from the OECD that it supports legislative changes enacted by …

TAMIS Registration Reminder From BRA

bgis Ministry News

The Barbados Revenue Authority is reminding all taxpayers that they are required to register in the new Tax Administration Management Information System (TAMIS) in order to pay and file their Value Added Tax (VAT), Pay as You Earn (PAYE) and Corporation Income Tax obligations. For persons who are already registered and have submitted paper returns for VAT, PAYE and Corporation …

COTA Executive Council Discusses Tax Priorities

bgis Ministry News

The Caribbean Organisation of Tax Administrators (COTA) is moving forward with plans for the 25th General Assembly and Technical Conference. Following the two-day meeting of the COTA Executive Council, hosted by the Barbados Revenue Authority, the eight-member group outlined a provisional programme for the conference scheduled for July 2019 in the Turks and Caicos Islands. Tax Administration Jamaica’s representative on …

Barbados To Converge Local & Int’l Tax Rates

Shamkoe Pilé Top Stories

Barbados is one of the first countries in the world to converge its local and international tax rates, making its tax system globally competitive, while bringing the country in line with the Organization for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) initiative. In addition, from January 1, 2019, domestic companies will pay the same tax rates …

BRA’s Registration Reminder For TAMIS

bgis Ministry News

The Barbados Revenue Authority (BRA) is reminding all taxpayers that they are required to register in the new Tax Administration Management Information System (TAMIS) in order to fulfill their Value Added Tax (VAT), Pay as You Earn (PAYE) and Corporation Income Tax obligations. Persons who are already registered and have submitted paper returns for VAT, PAYE and Corporation Income Tax, …

Delay In Tax On Online Transactions

Sharon Austin banner, Top Stories

Government will delay the introduction of value added tax on online transactions by two months. This disclosure came today from acting Minister of Finance, Ryan Straughn, who explained that Government was in the process of bringing legislation that would allow the Barbados Revenue Authority (BRA) to delegate authority to a third party for the collection of taxes online. “That legislation …

Prime Minister Meets With German Envoy

Sheena Forde Top Stories

Barbados is desirous of forging deeper ties with Germany. This was the hope conveyed by Prime Minister Mia Amor Mottley during a courtesy call by the new Ambassador of Germany, Mr. Holger Michael. During the courtesy call which took place in the Committee Room of Parliament last Friday, discussions between the Prime Minister and the German envoy centred on climate …