Property owners are advised that the first instalment of the new Municipal Solid Waste Tax should be paid by month-end.
Revenue Commissioner of the Barbados Revenue Authority, Margaret Sivers, said property owners would be allowed to pay the new tax in two equal instalments.
???The tax is due and payable on or before Monday, June 30, while the final instalment should be paid on or before Wednesday, December 31,??? she disclosed.
Ms. Sivers said the tax bills would be issued during the week commencing June 15. She explained that the tax has been calculated at a rate of 0.3 per cent of the site value of all properties on which a structure is erected, as shown on the 2014-2015 land tax notices.
???Failure to pay the tax by the specified dates will result in a penalty of 5 per cent of the tax demanded and unpaid. In addition to the penalty imposed, interest at the rate of one per cent for each month on the penalty and the unpaid tax at the prescribed time will be charged,??? she said.
The Municipal Solid Waste Tax was initially announced in the 2012 Financial Statement and Budgetary Proposals to assist in meeting the extensive costs associated with the treatment of the volumes of garbage produced on a daily basis.