On 3 July 2019, the Barbados Revenue Authority published a press release advising all Financial Institutions (“FIs”) based in Barbados that the Automatic Exchange of Information (“AEOI)” web portal is now available for their 2018 submissions (Link).
FIs are required to report the relevant 2018 AEOI information by 31 July 2019. These entities are reminded that if they operated for the full reporting year or part thereof, a submission must be made for that particular period.
Financial institutions are also asked to note that any request to have AEOI accounts deleted should be submitted in writing to the BRA on the company’s letterhead. In addition, all outstanding submissions must be completed before the deletion of an account.