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Payroll tax deadline passes

Payroll tax and corporate service tax returns for the fourth quarter of 2021 were due by the close of business on Friday, Government has reminded taxpayers.

Hotel occupancy tax returns for the month ending December 31 are also due on or before today, while financial services tax returns for the quarter ending December 31 are due on or before January 31.

Full payment must accompany all returns otherwise penalties will apply.

Taxpayers are reminded to use 2021/22 tax rates.

A spokeswoman said all information reported on the returns is subject to audit by the Office of the Tax Commissioner.

Taxpayers are required to keep records that demonstrate compliance with the Tax Acts.

Failure to be in compliance will result in fines and penalties up to $500,000, the spokeswoman said.

For more information on methods of payment, what’s new, or any other general guidelines, visit www.gov.bm or call 297-7750, 297-7751, or 297-7807.

Failure to be in compliance will result in fines and penalties up to $500,000.00 (Photograph by Google Maps)

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Published January 17, 2022 at 7:46 am (Updated January 17, 2022 at 7:46 am)

Payroll tax deadline passes

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