The government of Barbados has announced that from next year, individual and corporate
taxpayers will be able to file tax returns over the internet using the Inland
Revenue Department's (IRD) new Automated Tax Administration System.
According to an announcement by Commissioner of the IRD, Sabina Walcott-Denny
at the Department’s annual tax fair last week, as a result of the new
system, those filing their returns for the income year 2008 will have the
option of filing electronically.
“When individual or corporation tax returns are filed via the internet,
no attachments or paper documents will be required. Consequently, third parties,
namely employers, financial institutions and other businesses will be required
to provide electronically, specific information to the Department,” she
explained.
With respect to businesses, the Commissioner noted that they would now have
to obtain the national registration numbers of their customers.
“In many cases, this information may have been obtained from the customer
at the time of the transaction, but was not required to be submitted to the
IRD," she noted.
"In this new dispensation, the national registration number of the taxpayer
will be required for all information submitted to the department. The support
and cooperation of the business community will be of invaluable assistance to
the IRD in order that the system functions effectively and efficiently,”
Walcott-Denny stressed.
Under the new automated tax administration system, web-based services will
also be provided for the registration of companies and individuals; applications
for tax clearances; requests for routine adjustments, filing of objections,
change of address, examination of the latest returns filed, and remittance and other
forms.
The Commissioner also pointed out that the Inland Revenue Department had held consultations
with major stakeholders such as the Central Bank, the Institute of Chartered
Accountants of Barbados, Barbados Employers Confederation, the Small Business
Association and co-operative credit unions in November last year.
These meetings
were held in order to ensure that there was a smooth transition and buy-in by
customers to the implementation of the system.
The IRD chief issued an appeal to the entire taxpaying community to comply with the requests
of the department.
“Your cooperation will ensure that come 2009, there
will be a smooth transition to e-filing in Barbados,” Mrs Walcott-Denny
concluded.
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