Tax warning

Pay your NIS, self-employed persons urged

The National Insurance Department is appealing to self-employed persons to make contributions to the National Insurance
Scheme (NIS) in order to secure their retirement funds.

Deputy Director of the National Insurance Scheme Jennifer Hunte told Barbados TODAY that only a fifth of the island’s business owners and self-employed persons are active clients of the NIS.

“Only 20 per cent of persons who are self-employed are actually actively reporting and paying national insurance so we really have to get that percentage increased that the benefits may be spread among everyone,” she said on the sidelines of the NIS Family Fun Day over the weekend.

With the national pensionable age expected to increase to 67 from January 2018, the NIS deputy director said it was imperative that people plan ahead for their future and reap the benefits owed to them by the NIS.

“Only when they reach pensionable age do they realize there is no pension for me, [and] we don’t want persons to wait until that time; we want them to plan for their future and that is why we are encouraging them to make their contributes because the benefits of national insurance are there for you,” Hunte stressed.

She added that some businesses were defaulting in their payments. Although the NIS official acknowledged the struggles the private sector was facing, she urged companies to take action before the situation escalated to the law courts.

“We are aware of the economic climate and therefore we always encourage any employer or self-employed person who is unable to meet their monthly commitments to us or quarterly commitments to come into our compliance department and set up an arrangement,” Hunte said.

“This is where the compliance section or head of the section will sit with them, review their particular circumstance and they will agree on how they will make these payments and sign off on a payment plan. We work directly with our customers, but we always encourage them to come in and make that agreement.”

10 Responses to Tax warning

  1. Peter June 8, 2017 at 8:16 am

    Every self employed MUST be registered and pay the NIS and PAYE tasxes as required by LAW. NO one excepted. These self proclaimed professionals boast and brag. Live a well to do “I have arrived” lifestyle. Yet, they DEMAND free health and medical services, well paved roads, clean, running water and police protection among other things. Complaining is the order of the day. It is fair to ALL concerned to be fully committed to the efficiency of this supposedly proud, 50 year old country. NO ONE is above the LAW. There are thousands of self employed persons in trucking, PSV transporting, Taxi services, food vendors small shop owners, taxi men, masons, carpenters, electricians, plumbers, self proclaimed builders and contractors, roadside mechanics, land lords, painters trowel finish appliers, entertainers, the whole lot. I am challenging Chris Sinckler to find them, register them and collect the country’s dues.

    Reply
    • hcalndre June 8, 2017 at 4:40 pm

      @Peter, do these people live in the bush that you accused of not paying taxes in Barbados? Do they drive vehicles without paying road tax, every one of the above mention pays some kind of taxes. But to think of the poor people paying their taxes and cannot get their refunds, I know people look forward to the refunds to pay or buy things so the best thing is to keep your money in your pocket, tell them to go after the big tax dodgers.

      Reply
  2. Peter June 8, 2017 at 8:20 am

    Oh, I forgot Hairdressers, and prostitutes, those especially are a big health STD threat. they’re more than one can imagine. even imported……big

    Reply
  3. Peter June 8, 2017 at 8:51 am

    To further my input on this subject, I would like to suggest that Minister Sinckler , in cohesion with the minister of Education should implement a program into secondary schools, where ALL students be educated on the reasons we pay taxes and the benefits we derive thereof. The values to our nation. For if it is inbred in our youths, they will grow and go into the working world well knowing not only its purposes but their obligation as true nationals. I take NO political sides. If we are to build this nation lets do it together and with pride and dignity.

    Reply
  4. Milli Watt June 8, 2017 at 12:52 pm

    not a cent…….I working to provide for my retirement, my funds, my investment ONLY. that NIS want closing and that crowd including the minister was sending to find real work like picking pond grass

    Reply
    • hcalndre June 8, 2017 at 4:48 pm

      Milli Watt, I agree with you, when they get a proper running system then you can pay until then save your money, the only beneficiaries of the taxpayers` money is the politicians, everyone else has to make noise for what is theirs.

      Reply
  5. Peter June 8, 2017 at 1:43 pm

    Mill Watt. You should call yourself no volts. NIS is to pay you when you get too old to work. You get free bus ride like the old lady, and freed health care. Pay your NIS it’s your future you’re securing.

    Reply
  6. gsmiley June 8, 2017 at 2:14 pm

    Peter I am surprised that you even responded to Milli Watt.

    Such asinine thinking deserves no attention.

    Reply
  7. Milli Watt June 8, 2017 at 2:14 pm

    @ Peter you are a clear mouth piece for the political class. would advise you to make the contribution for everybody. my future ain’t in yours or your frinds hands you all need to go and look fuh work instead of using laws to extract what is not yours. btw the bus don’t run up my side, health care ain’t free and I looking at my last medical bill and the NIS leaking money no doubt into your hands. I REPEAT NOT A BIND CENT

    Reply
  8. Leah June 8, 2017 at 3:53 pm

    @Peter and in general. Seeing comments like that sound like a witch hunt One must consider that not all self empolyed people make money on daily basis. It isnt fair to assume or proclaim that all should be found and forced to pay immediatly cause some do not make enough even withing a years time.
    Only a person that has never been selfempolyed (successful or not) would come at the situation with that sort of attitude. While agreeing with that fact it shpuld be taught in school about taxes and such one for example cannot expect a 15 year old with a developing small busniess to pay for nis and taxes without the assistance of a parental figure.

    Even when or if they are all rounded up,it could fall through cause what evermoney they have made would be be sucked into taxes(not saying dont pay them ) and have nothing for themselves. Do consider they are angles to everything.

    Not everyone is in the catagory you have placed them in.

    Reply

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