Most governmental agencies and some financial institutions require to persons produce a Tax Clearance Certificate from the Barbados Revenue Authority in order for certain applications to be considered.Tax Clearance Certificates usually differ according to their purpose or the place i.e the organization for which they are required. There are three types of Tax Clearance Certificates for which you can apply:
General Tax Clearance - for which you apply online in TAMIS under the Account Tab
Foreign Currency Clearance
The main requirement for obtaining a Tax Clearance Certificate is ensuring that one’s filing is up-to-date and there is no tax due or outstanding. This relates mainly to Individuals as well as Corporations although in some instances there are other requirements that should be met.
Following is a list of required Tax Clearances which are issued by the Authority:
Persons seeking permanent residence, immigrant status and renewal of work permits require a Tax Clearance Certificate for presentation to the Immigration Department. If the person applying for the Tax Clearance Certificate is not employed, then the tax status of the person maintaining the applicant is looked at.
Restaurateurs, Hoteliers, Shop Keepers, Bar Persons in the business of selling alcoholic beverages are required by law to have a liquor license. A Tax Clearance Certificate is part of the requirement. These certificates are to be presented.
Restauranteurs, Hoteliers, Shop Keepers, Bar Persons in the business of selling alcoholic beverages are required by law to have a liquor license. A Tax Clearance Certificate is required in order to obtain a liquor licence.
This clearance is for persons who are remitting funds to another country as payment for services rendered or non-nationals who are repatriating funds. This certificate must be presented to the Central Bank of Barbados.
These certificates are presented to the Customs and Excise Department.
Owners of public service vehicles i.e. Mini Buses, Route Taxis, Maxi Taxis, Hired Cars, Tour Buses, Taxis and Hired Limousines are required to produce a Tax Clearance Certificate to the Licensing Authority annually on renewal of permits.
Companies that have ceased operations, amalgamated or have changed ownership require a Tax Clearance Certificate for submission to the Registrar of Corporate Affairs & Intellectual Property Office. If no trading has taken place during the period, then a sworn affidavit would be necessary to validate the claim.
An individual/corporation seeking the right or privilege to use an international patent or name is required to apply for a Franchise License from the Ministry of Finance. The application must be supported by a Certificate of Tax Clearance obtained from the Barbados Revenue Authority.
Persons who are applying for approval of a company as a Small Business needs a tax clearance certificate. This status allows Corporations to pay a lower rate of tax. These Certificates of Clearance are to be presented to the Ministry of Commerce Consumer Affairs & Business Development.