NASSAU, BAHAMAS — The Department of Inland Revenue has upgraded its online tax administration system and is asking the public to be patient as it works through the process of validating user accounts, according to Operations Manager Dexter Fernander.

Fernander told Eyewitness News while the new process is "quicker," the rollout has not been seamless.

"The process is quicker. You log in, submit your information add supporting documents, and go for it. There is a challenge right now. We have moved on to a new platform. A lot of individuals use third parties to create their accounts and we are trying to walk through resetting and changing information. We are working through the validation process and we are asking the public to be patient with us. Hopefully, by Monday we will be up 100 percent but we are still working with individuals to get access to their accounts and assist them," he remarked.

According to Fernander, some 51,000 activation emails were sent out on January 2. 

"Unfortunately, some individuals did not update their accounts. There are still some dormant email addresses and individuals who have not been updating their accounts regularly. These accounts were not transferred to our new platform. We need those people to come or call into our center so we can update their accounts," said Fernander.

Approximately 51,000 emails have reportedly been sent out to date. Businesses have until January 31 to file their business license applications and until April 2 to make a payment without penalty.

Under the new business license regulations, businesses with an annual turnover of under 250,000 no longer need accounting certification. Those above the $250,000 require certification by a member of the Bahamas Institute of Chartered Accountants, and those above the $5 million threshold are now required to produce audited financial statements.

Click here to read more on the Eye Witness News website