Residents filing their individual income tax returns for the 2018 tax period after April 30, 2019 are being told they owe the revenue agency a late penalty fee.
However, the Barbados Revenue Authority (BRA) is giving the assurance this is a system error that officials are working diligently to correct.
On April 27, taxpayers were given a month’s extension to file their 2018 tax return, after entities in both the public and private sector indicated that they were experiencing “issues” with uploading requisite information in the Tax Administration Management Information System (TAMIS).
Individuals have until May 31, 2019 to file their income tax for the previous year.
In a statement today, the BRA gave the assurance that the penalty taxpayers are seeing would be reversed once the system is updated.
“The Barbados Revenue Authority wishes to advise taxpayers that it is aware of the issue in relation to the late penalty application to individual income tax returns filed after April 30,” said the BRA.
“The project team is currently working to complete the system update to reflect the filing deadline extension of May 31, 2019. Please note that the late penalty fee applied to those returns after April 30, 2019, will be reversed when the system update has been completed,” it added.
Since its introduction, there have been several delays associated with the TAMIS.