Saturday 31 October, 2020

New deadline for Personal Income Tax Filing, interests deferred

The deadline for taxpayers to file the 2019 personal income tax returns has been extended by a month.

Taxpayers now have until Friday, May 29, 2020, to file.

The Barbados Revenue Authority (BRA) shared the announcement on their website hours ago.

This change means taxpayers will no longer have to be concerned with the original deadline of April 30 to file their returns and to make the requisite payments.

In addition, the BRA indicated that "taxpayers should also note that penalties and interest on payments made after April 30, will be deferred until the new deadline in May."

The press release stated that:

"Amid the response to limit the spread of COVID-19 in Barbados, there has been reduced operational capacity across the country, however, the Authority continues to facilitate the needs of all taxpayers as best as possible.

"The Authority advises that the extension has been necessitated as a number of institutions have not yet uploaded information into TAMIS and this has been limiting the filing process. The extension gives taxpayers additional time to fulfil their filing and payment obligations."

However, despite the extension for the filing deadline BRA encourages taxpayers whose information is available in TAMIS, to file their returns and make any associated payments as early as possible.

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