This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
Barbados Launches Automated Tax System,
by Amanda Banks, Tax-News.com, London
Tuesday, April 15, 2008
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.
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed