In order to qualify for the wage subsidy the employer must:
maintain 75% of the staff complement.
be registered with National Insurance as an employer or complete the relevant registration forms by May 18th, 2020.
be registered with the Barbados Revenue Authority and provide a TAMIS number by May 18th, 2020.
provide evidence of employee numbers via a payroll account, book or copy of NIS submission forms.
“According to the National Insurance & Social Security Act: An employer means any person employing one or more persons under a contract of service, whether expressed or implied, oral or in writing, and includes any agent, manager or representative of such person who is responsible directly or indirectly for the payment in whole or in part of remuneration of an employed person”
An eligible employer is a small business owner registered through Corporate Affairs as either a sole proprietor, a partnership or company. Employers who are not registered but are clients of Trust Loan Barbados, FundAccess or a member of the Small Business Association can also apply. For the purposes of the Fund, an employer can submit a claim for themselves as an employee provided that:
- The amount of eligible employees is less than 5.
- The employer has not benefited from the wage cessation fund or the NIS mitigation fund.
In addition, employees cannot benefit from the fund if they have been recipients of unemployment income from National Insurance. Employers are mandated to declare if lay off forms have been distributed.