The Barbados authorities has began paying out reverse tax credit to greater than 14,000 folks for the revenue yr 2000.
Minister within the Ministry of Finance, Financial Affairs and Funding, Ryan Straughn, mentioned that the ministry has authorized the Barbados Income Authority (BRA) to disburse BDS $19.4 million for the Reverse Tax Credit score to 14,200 Barbadians, who will every obtain BDS$1,300 for revenue yr 2022.
He mentioned that these individuals who have made preparations for direct deposit have already began receiving these refunds.
“Regardless of our greatest efforts, there are nonetheless roughly 2,808 individuals for the Reverse Tax Credit score who haven’t offered the BRA with banking info. Please observe we’ve got made preparations with the Postal Service to have these delivered over the subsequent few days,” Strraughn mentioned, urging Barbadians to assist the authorities ship providers simpler to them.
He mentioned as well as, the sum of BDS$21.1 million in revenue tax refunds for revenue yr 2022 shall be paid to 30,427 individuals as effectively.
“Most of this shall be paid by way of direct deposit and we thank all those that have offered the data. Roughly 45,000 will profit from these refunds which we consider is most useful to Bajans presently,” Straughn added.
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