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 had approved the Barbados Revenue Authority (BRA) to disburse BDS $19.4 million (One BDS$=US$0.50 cents)for the Reverse Tax Credit to 14,200 Barbadians, who will each receive BDS$1,300 for the income year 2022.
He said that the people who made arrangements for direct deposit have already started receiving these refunds.
“Despite our best efforts, approximately 2,808 persons for the Reverse Tax Credit still 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 that, in addition, the sum of BDS$21.1 million in income tax refunds for 2022 will be paid to 30,427 persons.
“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 now,” Straughn added.
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