Barbadians to benefit from tax refunds

BRIDGETOWN, Barbados, CMC -The Barbados government has started paying out reverse tax credits to more than 14,000 people for the income year 2000.

Minister in the Ministry of Finance, Economic Affairs and Investment, Ryan Straughn, said that the ministry has approved the Barbados Revenue Authority (BRA) to disburse BDS $19.4 million for the Reverse Tax Credit to 14,200 Barbadians, who will each receive BDS$1,300 for income year 2022.

He said that these people who have made arrangements for direct deposit have already started receiving these refunds.

“Despite our best efforts, there are still approximately 2,808 persons for the Reverse Tax Credit who have not provided the BRA with banking information. Please note we have made arrangements with the Postal Service to have these delivered over the next few days,” Strraughn said, urging Barbadians to help the authorities deliver services easier to them.

He said in addition, the sum of BDS$21.1 million in income tax refunds for income year 2022 will be paid to 30,427 persons as well.

“Most of this will be paid via direct deposit and we thank all those who have provided the information. Approximately 45,000 will benefit from these refunds which we believe is most beneficial to Bajans at this time,” Straughn added.

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