Value Added Tax

1. Sign into TAMIS at tamis.bra.gov.bb
2. Select “Return” Tab
3. Select the return to be amended from the list of returns shown
4. Select “Edit the Return”
5. Select “Start”
6. Make corrections to return
7. Select “Next”
8. Click “Amend” then “Amendment Reason” and select one of the stated reasons
9. Insert Amendment Details
10. Upload supporting documentation
11. Select the “Declaration”
12. Submit the return

Exempt supplies are supplies that are not subject to VAT.

It should be noted that where a registrant makes exempt supplies, he is NOT entitled to recover allowable input tax in respect of goods and services he has acquired or imported for the purposes of making such exempt supplies.

These are food items that are in the zero-rated basket of goods, which simply means that they currently have a rate of VAT that is zero.

You can see a full list of the food items here

For Companies:

• Articles of Incorporation (Form 1)
• Notice of Address/Change of Address (Form 4)
• Notice of Directors/Change of Directors (Form 9)
• Request for Name Search/Reservation (Form 33)
• Certificate of Incorporation (Form 3)

For Individuals or Partnerships:

• Application for Business Name (Form 1)
• Certificate of Registration (Form 6)

This is an activity carried on essentially as a private recreational pursuit, hobby, engagement, occupation or employment as an officer or employee.

A taxable activity is the operation of any business, charity, society, association, union or other organisation which provides for a subscription or other consideration, facilities or advantages to its members.

Additionally, a taxable activity involves the admission, for consideration, of persons to any place or premises.

Currently, the most common VAT rate is 17.5%.

However, the rate of VAT on mobile services is 22%.

The VAT filing periods are shown in the below table:

For Value Added Tax purposes, “a person” is defined as: an individual, a company, a partnership, a joint venture, a trustee in a trust or estate or other unincorporated body e.g. a club, a society or cooperative or statutory body.