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Tax reminder

The Tax Commissioner has reminded all tax payers that the amended tax rates brought in at the beginning of April must be used to calculate taxes due for the quarter ending June 30, 2016.

Revised return forms are available at the Office of the Tax Commissioner on Church Street or at the Government cashiers on Parliament Street.

The reduced rate for tax payers under the Hotel, Restaurant or Retail Payroll Tax Relief Programmes was revised from 5.5 per cent to 8 per cent from April 1, 2016.

Due to system enhancements related to the 2016/17 budget amendments, the E-Tax system will not be available for tax payers to file their returns until July 20, 2016.

The deadline for electronically filed payroll tax returns only is revised to July 27, 2016.

Paper based returns are due by July 15, 2016 as normal. Full payment must accompany returns.

Electronic filing is now mandatory for tax payers with a gross annual remuneration greater than $1 million and all exempt undertakings. Penalties for non-compliance with this policy may be applied.

The E-Tax system has been enhanced to accept payment by debit/credit cards including Amex. There is no limit per transaction by card using the E-Tax system.

For further assistance contact the office of the Tax Commissioner on 298-6352 or 297-7665 or taxenquiry@gov.bm

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Published June 27, 2016 at 6:59 pm (Updated June 27, 2016 at 7:30 pm)

Tax reminder

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