EXTENSION GRANTED FOR TAX AMNESTY
Given the tremendous response to the tax amnesty programme proposed by the Minister of Finance on June 11, 2018 the Barbados Revenue Authority has sought the permission of the Ministry of Finance to extend the application period for the amnesty. The Ministry has agreed and the Authority will be accepting applications until Friday, January 4, 2018.
According to Carolyn Williams-Gayle, manager communications and PR, the tax amnesty is intended to encourage taxpayers who have been delinquent on their tax bills to take advantage of the programme to bring their arrears up to date.
“Over the last week we have seen increased foot traffic at our locations in relation to persons applying for the tax amnesty. We do want taxpayers to benefit from participating in the programme as it allows them to save on their outstanding tax bills as all of the penalties and interest will be waived once the principle is paid in full. Some persons have indicated the need for time to secure financing and an extension for the programme has been granted until the end of this week,” she explained.
The taxes eligible for the waiver of penalty and interest in this Tax Amnesty programme are Value Added Tax (VAT), Land Tax, Income Tax, P.A.Y.E. and Corporation Tax.