Financial institutions are required to report the relevant 2018 AEOI information by Wednesday, July 31, 2019.
They are reminded that if they operated for the full reporting year or part thereof, a submission must be made for that particular period.
These entities are also asked to note that any request to have AEOI accounts deleted should be submitted in writing to the BRA on their company’s letterhead. In addition, all outstanding submissions must be completed before the deletion of an account.
The AEOI is a standard in Barbados’ international reporting requirements for the Foreign Account Tax Compliance Act and the Common Reporting Standard.