Delinquent taxpayers urged to settle arrears

With more than $400 million in land tax owed to the Barbados Revenue Authority (BRA), that agency says it would be ramping up efforts to encourage property owners to settle arrears.

In a brief statement on Tuesday, the BRA said it would continue to put payment plans in place to ensure the arrears were paid, warning that if landowners failed to take part in the programme they would continue to incur penalties.

“To date, over $400 million in land tax arrears remain unpaid to the Barbados Government. In response, the Barbados Revenue Authority has ramped up its efforts to encourage property owners to settle their outstanding bills through a payment plan programme,” BRA announced.

Revenue Commissioner Louisa Lewis-Ward urged individuals who owe land tax or any other type of tax, to pay off those arrears in full or take advantage of the BRA’s payment plan programme to avoid continued penalties and remain in good standing with the authority.

“I advise taxpayers who are constrained financially in clearing their tax debt to contact us to have a one-on-one consultation with a tax collections officer, who will help to create a viable payment plan based on your cash flow. Taxpayers should email their requests to settletax@bra.gov.bb and an officer will reach out to assist,” she said.

The BRA’s Tax Collections Department started the initiative at the beginning of the current financial year by contacting indebted property owners directly and providing tailored payment plans.

Land tax is charged based on three land types – vacant land, improved land for non-residential purposes and improved land for residential purposes.

Each attracts a different rate of tax annually depending on the value of the land, which is to be paid by March 31 the following year.

Individuals who fail to meet the deadline incur a penalty of five per cent of the unpaid taxes plus one per cent interest per month on the principal and penalty. (MM/PR)