As taxpayers begin filing their personal income tax from today, Monday, April 8, they are being told that refunds will be granted between July and August this year.
Minister in the Ministry of Finance, Ryan Straughn, made the comments as he encouraged taxpayers to file early in the Tax Administration Management Information System (TAMIS).
Mr. Straughn stated: “When persons file for 2018 in April, as they did last year, they will get their income tax refund, if they are owed one…. Six months is the statutory period that is normally allowed for repayment of taxes. Persons should expect refunds to be received somewhere between July and August, typically for those persons to prepare for their back to school.
“So, refunds will be paid this year for 2018 because we want normal service to resume, so that people can start trusting the tax system again.”
TAMIS is a revenue management system designed to more comprehensively administer the online tax portfolio in Barbados. It is expected to offer users a simpler way of filing, and improve customer experience and communication, so that real-time information will be available on the website. Taxpayers may access it at https://tamis.bra.gov.bb.
Mr. Straughn stressed that this new system would allow government to deliver better services to the public. He also encouraged taxpayers to provide their banking details, so any refunds could be forwarded to their bank accounts.
“We are trying to eliminate the issuing of cheques across government and to that extent, we’re asking persons to provide banking information, as it makes it easier for the Barbados Revenue Authority and to the wider extent government, to better manage its cash flow. The reality is that maintaining a cheque system is very costly, and it is very time consuming,” he stated.
Approximately 115,000 persons have registered in TAMIS. The Barbados Revenue Authority will continue TAMIS demonstrations today at Queen’s College, Husbands, St. James; on Tuesday, April 9, at Princess Margaret Secondary School, Six Roads, St. Philip; and on Wednesday, April 10, at Lester Vaughan School, Cane Garden, St. Thomas, beginning at 6:30 p.m.
In addition, there are digital and paper flyers that have been developed to take taxpayers through the filing process. Also, videos on how to file the personal income tax return and the reverse tax credit have been created and persons may view them on the BGIS’ YouTube channel and Facebook page.