The Barbados Revenue Authority is urging all third-party tax information providers to acquire the new Tax Identification Numbers (TINs) of their clients and employees in order to facilitate the uploading of the relevant third-party information on or before February 28, 2019.
Taxpayers are asked to note that the new Tax Administration Management Information System (TAMIS) will be used for the 2018 Personal Income Tax filing for individuals in 2019.
As such, all taxpayers, including employees, self-employed persons, companies and pensioners are required to re-register in TAMIS to receive their new 13-digit TIN.
The Authority is therefore encouraging third-party providers to ensure that each of their employees and clients acquire their TIN by completing their TAMIS re-registration and that their employees and clients pass these TINs on to them.
Third-party information providers may be employers, who have paid remuneration, including salaries or wages, and other benefits to their employees; financial institutions and other agencies who have made payments to resident persons in respect of interest, dividends, royalties, etc., as well as trade unions and registered charities in receipt of subscriptions and donations, respectively.
They also include persons who for the supply of goods or services have made payments to resident independent contractors, such as accountants, attorneys, computer programmers, system designers and analysts, air conditioning and refrigeration technicians, auto mechanics, builders and or contractors, freighters and customs brokers.