CITA Online - New Group Management Functionality

CITA ONLINE - NEW GROUP MANAGEMENT FUNCTIONALITY

T axpayers can now edit their Group composition for Corporate Income Tax (CIT) and Tax Credit Benefits (TCB) in CITA Online.

Group Management Functionality

This new feature includes group management functionality for the registration of CIT and TCB groups and summarises:

• the current members;
• the group TIN assigned; and
• the Controller designated.

Each CIT group shall be assigned a CIT group TIN ending in “CIT” (e.g., 123 – 456 – CIT), which shall be referenced when filing a CIT Return or an Instalment Return.

Each TCB group shall be assigned a TCB group TIN ending in “TCB” (e.g., 123 – 456 – TCB), which shall be referenced with respect to the filing of a TCB Return.

Taxpayers are encouraged to review their information carefully and communicate any required changes to CITA at least 30 days before the filing of a return for the relevant group. Please email the changes to support@cita.bm or call +1 441 543 8660.

Guidance has been published here.