Self-employed reminded of prepayment deadline

The Barbados Revenue Authority (BRA) is reminding self-employed individuals that the third prepayment instalment for Personal Income Tax (PIT) is due on Wednesday, December 15, 2021. The amount due for this prepayment is 25 per cent of the tax payable for the 2020 income year.

The Authority encourages taxpayers to use the online payment option in TAMIS to submit their tax payments.

Persons conducting transactions over-the-counter are advised to create their Electronic Payment Advice (EPA) in TAMIS before coming to the office. The EPA should be printed or the number is written on the back of the cheque and presented to the cashier.

Payments may be made at the Authority’s offices in the Bridge Street Mall; Warrens Towers II; Holetown Public Complex, and Southern Plaza Complex; Monday to Friday, between 8:15 a.m. and 3:30 p.m.

Failure to make the prepayment by this due date will result in a penalty of 10 per cent or $10.00, whichever is greater, as well as interest at the rate of 0.5 per cent per month. (BGIS)