About BRA

In this section you will learn more about the Barbados Revenue Authority (BRA) including its mission, vision, divisions, services and much more.

Revenue Collection

The Financial Management Division is the accounting arm of the Authority. It has responsibility for:

  1. Receipt of payments and the issuing of receipts by the cashiers
  2. Monitoring of accounts and the settling of any related problems
  3. Registration of rental property
  4. 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)

  1. Prepayment - September 15th
  2. Filing date of return and payments of any balance of tax due - March 15th
  3. 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)

  1. Prepayment - December 15th
  2. Prepayment - March 15th
  3. 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.