Taxpayers submitting personal income tax returns for the income year 2019 have been granted a further filing and payment extension to June 30, 2020.
In an announcement issued earlier today, the Barbados Revenue Authority (BRA) stated that it pushed back the cut-off date for individuals to fulfil their tax obligations from May 29 to the end of June.
“This extension was necessitated by the fact that many public and private sector entities have either submitted requests to amend information which was uploaded to the system or have not yet uploaded any information into TAMIS. This limits individuals being able to file returns.
In an effort not to put any individual taxpayers at a disadvantage, the Authority decided it would be prudent to grant a further extension at this time. The additional month is enough time for accounts to be updated and to facilitate taxpayer compliance within the amended deadline,” the statement noted.
Additionally, the Authority has reminded employers that Pay As You Earn (PAYE) returns are to be filed by the 15th of each month on behalf of all employees. This monthly filing is key to enabling employees to file their income tax returns when due.
In addition, the BRA has advised companies whose year-end is between October and December, that an extension has been granted for the filing and payment of Corporation Tax from June 15, 2020, to June 30, 2020.