December Prepayment Deadline for Self-Employed Individuals Soon Here

December Prepayment Deadline for Self-Employed Individuals Soon Here

(BRIDGETOWN, December 10, 2019) The Barbados Revenue Authority (BRA) is reminding self-employed individuals that the third prepayment instalment for Personal Income Tax is due on Monday, December 16, 2019. The amount due for this prepayment is 25 percent of the tax payable for the 2018 income year.

Taxpayers are advised to create their Electronic Payment Advice (EPA) in TAMIS before making payments. Failure to make the prepayment by this due date will result in a penalty of 10 percent or $10, whichever is greater, as well as interest at the rate of 0.5 percent per month.