The prime functions of the BRA include assessing, collecting and enforcing the payment of taxes, duties, interest, penalties, fees and other sums payable under the specified enactments; advising the Government on matters contained in the Barbados Revenue Authority Act and regarding taxation; and representing Barbados in respect of matters relating to taxation.
In addition to administering the Income Tax Act, Cap.73, of the laws of Barbados, the Department has responsibility for several other statutes and provides varied services to both individuals and the corporate sector. Some of these services are listed below:
Annuity Contracts are registered by the Barbados Revenue Authority in accordance with the Income Tax Regulations.
To dispute a Notice of Assessment, a person is required to file an objection on-line via the E-tax website stating the precise grounds for the objection. The tax account number (TIN) and the relevant income year must be indicated. The objection must be submitted not later than 21 days of the date of the Notice of Assessment.
Persons are reminded that they are required to pay all taxes due and outstanding as shown on the Notice of Assessment by the date indicated on the notice, notwithstanding that an objection may have been lodged against that assessment.
Where a person is not satisfied with notice of Re-Assessment following an initial objection to the Commissioner, that person may appeal to the Appeals Tribunal, by delivering within 30 days of the date of the Notice of Re-assessment, six copies of a notice of appeal to the Secretary of the Appeals Tribunal. The taxpayer may seek further recourse in the High Court if not satisfied with the decision of the Appeals Tribunal; but only on a point of law.
The Barbados Revenue Authorities Customer Service Section section is located on the ground floor of the Treasury Building. The entrance can be found on the Southern side (Wharf End) of the Building. Persons are always welcomed to visit the customer service are for assistance on any tax matter.
The Barbados Revenue Authority is responsible for the registration of:
- Corporations
- Sole-Traders & Partnerships
- Benevolent Organisations
- Superannuation Funds
- Annuity Contracts
- New Employer for PAYE
- Registered Retirement Savings Plan
- Recording Covenants
- Maintaining records of persons entitled to tax concessions under International Business Companies (IBC), Exempt Insurance companies (EIC), Societies with Restricted Liability (SRL) etc, legislation
- Approving refund of Registered Pension Plan Contributions on termination of employment of plan member.
- Processing refunds of witholding tax
- Granting extensions of filing dates for companies, partnerships and self employed persons
- Approving fiscal periods for companies and granting requests for changes thereto
- Certifying tax status of specified income types in relation to individuals and companies under the Barbados/UK tax treaty.
- Preparing certificates for Contracting States in relation to income earned and tax withheld in respect of non-residents
For more information about each of these services, please click here.
The Financial Management Division is the accounting arm of the Authority. It has responsibility for:
- Receipt of payments and the issuing of receipts by the cashiers
- Monitoring of accounts and the settling of any related problems
- Registration of rental property
- Registration of places of public entertainment
Receipt of Payments
The cashiers in the Treasury Building are located at the north side of the building and are available for service between 7:30a.m. and 3:30p.m – Mondays to Fridays. Payments may be made in the form of cash, cheques or tax reserve certificates. The appropriate receipt is issued and the taxpayer’s account is updated.
Payment of Corporation Tax
Corporation Tax – Group 1
Companies whose fiscal year end falls between 1st January and 30th September (both dates inclusive)
- Prepayment - September 15th
- Filing date of return and payments of any balance of tax due - March 15th
- Prepayments are determined at 50% of the tax payable for the previous year
Corporation Tax – Group 2
Companies whose fiscal year end falls between 1st October and 31st December (both dates inclusive)
- Prepayment - December 15th
- Prepayment - March 15th
- Filing date of return and payments of any balance of tax due - June 15th
Prepayments are determined at 50% of the tax payable for the previous year. Determination of prepayments may also be obtained by applying in writing to the Barbados Revenue Authority at least 30 days before first prepayment is due.
Some financial institutions require a Tax Clearance certificate from the Barbados Revenue Authority in order for certain applications to be considered.
Tax Clearance Certificates may differ according to the Government Department or financial institution requesting such certificates.
The main requirement for obtaining a Tax Clearance Certificate is ensuring that one’s filing is up-to-date and there is no tax due or outstanding. This relates mainly to Individuals as well as Corporations although in some instances there are other requirements to be met.
For more informaiton about each Tax Clearance, please click here.
The Barbados Revenue Authority researches information for Tax Rulings/Double Taxation Treaty interpretations.