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Financial Institutions Reminded to Submit for AEOI

07/30/2019 02:41 PM
Barbados Revenue Authority Press Releases
(Bridgetown, July 30, 2019) The Barbados Revenue Authority (BRA) is reminding all financial institutions based in Barbados to make their 2018 submissions to the Automatic Exchange of Information (AEOI) web portal by Wednesday, July 31, 2019.
These entities are also reminded that even if they operated for a part of the year, a submission must still be made for that particular period.
In addition, any request to have AEOI accounts deleted should be submitted in writing to the BRA on the company’s letterhead.
The AEOI is a standard in Barbados’ international reporting requirements for financial institutions in relation to the Foreign Account Tax Compliance Act and the Common Reporting Standard.