(Barbados Revenue Authority)
Third-party information providers can now use the new Tax Administration Management Information System (TAMIS) to file all relevant statements for the reporting of amounts paid to or received by all resident persons during the 2018 income year.
Providers are expected to upload these forms by February 28, 2019, in order for individual taxpayers to file their returns in April 2019.
When filing third-party forms, providers have the option of utilising either the web form on the TAMIS website or the convenient Microsoft Excel templates available for download on the BRA website at bra.gov.bb. A schema will also soon be made available for those entities who prefer to use an XML file.
The BRA is therefore reminding all such providers to ensure they acquire the new Tax Identification Numbers (TINs) of their clients, as well as both current and recent employees, in order to facilitate these uploads.
Third-party information providers include employers who have paid remuneration including salaries or wages and other benefits to their employees, all financial institutions and other agencies who have made payments to resident persons; and trade unions and registered charities in receipt of subscriptions and donations, respectively.
Persons who have contracted resident independent contractors such as attorneys, accountants, entertainers and customs brokers, are also expected to upload details regarding the supply of goods and services.