Individuals who have income from business or rent, which is more than 25% of their total assessable income, are required to make prepayments of tax. They are equal to 25% of the tax payable for the previous year and paid in three installments.
Prepayment - June 15th
Prepayment - September 15th
Prepayment - December 15th
Determination of prepayments may also be obtained by applying in writing to the Commissioner of Inland Revenue at least 30 days before first prepayment is due.
Filing Date for individuals is April 30th or the date otherwise determined by the Commissioner. Individuals who are self-employed or in receipt of income from rent or business which is 25% or more of the total assessable income, are required to file and pay all the tax payable by April 30th. Individuals with employment income only are required to file on April 30th and may pay half of the tax payable on April 30th and the other half by September 30th.
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The Financial Management Division is the accounting arm of the Department, is situated on the ground floor of the Treasury Building in Bridgetown.

The activities of the Division include the:

receipt of payments and the issuing of receipts by the cashiers,

monitoring of accounts and the settling of any related problems,

registration of rental property

registration of places of public entertainment

Our cashiers are located at the north side of the building and are available for service between 8:30a.m. and 3:30p.m – Monday to Friday. Payments may be made in the form of cash, cheques or tax reserve certificates. Outside the stipulated hours of business, payments may be made by cheques which are placed in the mailbox located next to the entrance on the north side of the building. In either case, the appropriate receipt is issued and the taxpayer’s account is updated.

Payment of Corporation Tax

Corporation Tax – Group 1 (companies whose fiscal year end falls between 1st January and 30th September --both dates inclusive)

Prepayment - September 15th

Filing date of return and payments of any balance of tax due - March 15th

Prepayments are determined at 50% of the tax payable for the previous year.

Corporation Tax – Group 2 (companies whose fiscal year end falls between 1st October and 31st December --both dates inclusive)

Prepayment - December 15th

Prepayment - March 15th

Filing date of return and payments of any balance of tax due - June 15th

Prepayments are determined at 50% of the tax payable for the previous year. Determination of prepayments may also be obtained by applying in writing to the Commissioner of Inland Revenue Department at least 30 days before first prepayment is due.

In accordance with the Income Tax Act, a person who,

a. fails to submit a return by the time required or

b. fails to estimate the tax payable by him,

shall pay a penalty equal to 5% of his tax assessed for the income year. A person who fails to pay the tax he estimates he should pay or assessed on him, is required to pay a penalty of 5 % of the amount due and unpaid or $10, whichever is greater. Additionally any person who fails to deliver a return by April 30th will be required to pay a penalty of $100.

Sometimes taxpayers are advised that they have an outstanding balance with the Department. They may respond by telephone or letter and if the issues are not resolved, they are welcome to visit the office to further discuss the matters. Failure to respond or delay in responding may cause the Inland Revenue Department to pursue the options made available by the Income Tax Act in an effort to recover the amounts owed.

Garnishments - Where the Commissioner believes that an employer is liable to make payment to a person who is indebted to the Department, the Commissioner may deliver to the employer a demand for payment in order to liquidate the debt. This payment is not to exceed one-third of the sum payable to the employee for any given period.

Demands on third parties - Where the Commissioner has knowledge that person X is liable to make payment to person Y, and person Y owes tax to the Crown, the Commissioner may serve a demand for payment on person X. This demand requires that person X makes payments to the Commissioner from the amount due to person Y, in order to liquidate his debt to the Crown.

Unpaid Tax Certificates - An amount payable by a person under the Income Tax Act and is unpaid for a period of 30 days may be certified by the Commissioner in relation to that person. This certificate is called an unpaid tax certificate and may be filed and registered by the Commissioner in the High Court or the magistrate’s court of District “A”. After 7 days, it has the same force and effect as a judgement of the court in which it is registered, in favour of the Crown.



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The Landlord and Tenants Act 1977, Part ii, section 5(1) requires that rental properties be registered. In order to comply, the landlord must:

provide information by completing a form, ‘Notice of Intention to let premises’ and
pay a fee of $2.00

A Certificate of registration is issued to reflect the details entered in the ‘Register of rental properties’.

Section 4, 5 and 6 of the Public Entertainment Act 1985-8 allows for the registering of Places of Public Entertainment on application to the Commissioner of Inland Revenue in the prescribed application form. Supporting documents to be submitted are:

1. Certificate from Chief Town Planner

2. Certificate from Cheif Fire Officer

3. Certificate of Character of Applicant from the Commissioner of Police

Following submission of application to the Commissioner, an advertisement inviting objection from the public is placed in the local press for 14 days. If there are no objections, on payment of the appropriate fee, the Place of Public Entertainment license is then issued.

A person who fails to pay an amount that is due, in addition to the penalty, is also charged interest at the rate of 1% per month for each month that the amount remains outstanding.
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