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Common Reporting Standard and Foreign Account Tax Compliance Act reporting for 2019

Common Reporting Standard and Foreign Account Tax Compliance Act

The Barbados Revenue Authority (the Authority) has observed that a number of Reporting Barbados Financial Institutions registered via the Authority’s Automatic Exchange of Information (AEOI) portal have failed to submit reports for 2019 for the Common Reporting Standard (CRS) and/or Foreign Account Tax Compliance Act (FATCA). As a result, the Authority believes that guidance must be issued so as to clarify the obligations of Reporting Barbados Financial Institutions who have not submitted their report(s) for 2019. 

Click here to view the Guidance Note PPG No. 003/2021