BRIDGETOWN, Barbados, CMC -The Barbados authorities has began paying out reverse tax credit to greater than 14,000 individuals for the revenue yr 2000.
Minister within the Ministry of Finance, Financial Affairs and Funding, Ryan Straughn, mentioned that the ministry had accredited the Barbados Income Authority (BRA) to disburse BDS $19.4 million (One BDS$=US$0.50 cents)for the Reverse Tax Credit score to 14,200 Barbadians, who will every obtain BDS$1,300 for the revenue yr 2022.
He mentioned that the individuals who made preparations for direct deposit have already began receiving these refunds.
“Regardless of our greatest efforts, roughly 2,808 individuals for the Reverse Tax Credit score nonetheless haven’t offered the BRA with banking info. Please word we now have made preparations with the Postal Service to have these delivered over the following few days,” Strraughn mentioned, urging Barbadians to assist the authorities ship providers simpler to them.
He mentioned that, as well as, the sum of BDS$21.1 million in revenue tax refunds for 2022 will probably be paid to 30,427 individuals.
“Most of this will probably be paid through direct deposit, and we thank all those that have offered the knowledge. Roughly 45,000 will profit from these refunds, which we imagine is most helpful to Bajans now,” Straughn added.
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