Tax Amnesty 2017

POLICY NOTE
PPG No. 001/2017
Tax Amnesty
Budgetary Proposal 2017


The Minister of Finance and Economic Affairs during the Financial Statement and Budgetary
Proposals of May 30, 2017 stated that:

“… Government has decided to implement an additional period during which taxpayers can benefit from
a waiver of penalty and interest on taxes owed to the BRA for Land Tax, Value Added Tax, Income
Tax, Corporation Tax and P.A.Y.E”. “The amnesty will run from June 01 2017 until November 30 2017
and the same rules which were applicable to the last amnesty will apply in respect of this new
period …”

To give effect to the Minister’s proposal, the Barbados Revenue Authority (the Authority)
advises that:

Period of Amnesty

1. The tax amnesty will be for a period of six months commencing on June 01, 2017 and
will end on November 30, 2017.

Conditions for Waiver

2 The taxes covered by the amnesty are:

i. Value Added Tax (VAT),
ii. Land Tax,
iii. Income Tax,
iv. Corporation Tax, and
v. P.A.Y.E

3. Debt incurred in the tax period or year for the above mentioned taxes, which were due to be paid
on or before May 31, 2017 will be eligible for the 100% waiver of penalty and interest.

4. (i) 100% of the penalty & interest will be waived once the full principle (tax) is paid on or
before November 30, 2017.

(ii) A person who has outstanding amounts for a number of periods or years but is unable to pay the
full principle for all periods or years outstanding, will still be able to benefit partially from
the amnesty once the principle amount for a specific period or year is paid.

5. To benefit from the amnesty, all outstanding returns must be filed. All future obligations must
be fulfilled as and when they become due. For example, VAT returns must be filed and paid in full
before the end of the amnesty period.

6. (i) A person who has outstanding returns that ought to have been filed before May 31, 2017,
may file those returns during the period of the amnesty and benefit from the amnesty once the
principle tax is paid before the end of the amnesty period.

(ii) However, a taxpayer who files outstanding returns during the amnesty period which has no tax
payable on a particular return will not receive a waiver for the late filing penalty for the said
period.

7. A person who has an existing instalment agreement may benefit from the amnesty, such persons
must re-apply under the amnesty programme.

8. Where a judgement exists by way of an Unpaid Tax Certificate, the taxpayer may benefit from the
amnesty; however, the taxpayer will be required to enter into an instalment arrangement with the
Barbados Revenue Authority.

Application for Amnesty

9. Persons who are interested in the tax amnesty will be required to complete an application form
to enter the amnesty programme. The application form may be obtained from the offices of the
Barbados Revenue Authority or may be downloaded from our website HERE

10. The completed form can be returned to the Barbados Revenue Authority at the following
locations :-

a) Warrens
b) Holetown
c) Weymouth
d) Treasury Building

Payments

11. Payments may be made by cash, debit cards, manager’s cheque.
Payment can also be in lump sums or instalments.

12. Credit cards will be accepted for payments under the Amnesty Programme, up to a maximum of
$50,000.00.

13. Payments for Corporation tax, Individual Income tax, and Pay as You Earn (P.A.Y.E) must be made
by cash or cheque.

DOWNLOAD FORM HERE

 

Policy Planning and Governance
Barbados Revenue Authority
May 31, 2017