Barbados Modernizes Land Tax Administration

By Editorial 26 January, 2012

Barbados has announced that it will soon roll out its online portal for taxpayers to view and pay their land tax bills online, although the system is not yet available for foreign property owners.

Commissioner of Land Tax, Wayne Forde, in announcing the measure, said the project was aimed at eliminating long lines inside the department during peak tax-paying periods. The portal is expected to be introduced during the coming months, and according to Forde, would "allow taxpayers to see their total tax liabilities including any discounts to which they are entitled to, and/or any penalties or interest accrued on their accounts".

During the initial phase of the project, Forde said overseas property owners would be unable to make payments using foreign accounts, credit and debit cards, as the system will only be able to process transactions from local bank accounts.

"The implementation of this system would act as a precursor to an environment where tax bills and valuation notices will be issued electronically to those taxpayers who desire to receive this mode of tax payment” Forde said.

Forde also noted that the initiative to modernize its tax administration processes would provide cost benefits to government as well as environmental benefits.

Tags: Expatriates | Tax | Investment | Real-estate Investment | Property Tax | Law | Real-estate | Retirement | International Financial Centres (IFC) | Offshore | Barbados |


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