Policyholder Town Hall Meetings Delayed

bgis Top Stories

The town hall meetings planned for claimants and policyholders of Resolution Life Assurance Company Ltd (ResLife), to update them on the proposed settlement scheme and liquidation of the company, have been postponed until next month. During the March 20, 2019 Financial Statement and Budgetary Proposals by Prime Minister and Minister of Finance, Mia Amor Mottley, it was disclosed that town …

Taxpayers Encouraged To File Early

Sharon Austin Top Stories

As taxpayers begin filing their personal income tax from today, Monday, April 8, they are being told that refunds will be granted between July and August this year. Minister in the Ministry of Finance, Ryan Straughn, made the comments as he encouraged taxpayers to file early in the Tax Administration Management Information System (TAMIS). Mr. Straughn stated: “When persons file …

$41M Paid Out In Domestic Debt Restructuring

Sharon Austin Top Stories

Government recently paid out BDS$41 million to pensioners 60 years and over under the domestic debt restructuring programme. This disclosure has come from Minister in the Ministry of Finance, Ryan Straughn, who said $7 million of that amount was interest. He explained that the pensioners each received a cash payment of up to $30,000. “This recent payment has delivered financial …

Regulatory Sandbox Important To Barbados

Sharon Austin Top Stories

Minister in the Ministry of Finance, Ryan Straughn, has underscored the importance of the recently established Regulatory Sandbox, saying it is the “framework by which innovation can be assessed”. Mr. Straughn’s comments came as he addressed ICBL’s Celebration Event for its 40th anniversary, at Sandals Royal Barbados Resort, last Friday night. The Minister said risk assessment, mitigation and risk management …

Green Shoots In The Barbados Economy

Sharon Austin Top Stories

Green shoots are being seen in the economy as a result of the Barbados Economic Recovery and Transformation Programme (BERT). Minister in the Ministry of Finance, Ryan Straughn, made this observation as he addressed ICBL’s Celebration Event for its 40th anniversary, at Sandals Royal Barbados Resort, last Friday night. Mr. Straughn said Government had demanded a series of monthly reports …

Pensioners Relief In Debt Exchange Programme

Sharon Austin banner, Top Stories

Government has made good on its promise under the domestic debt restructuring programme and pensioners 60 years and over will begin receiving a cash payment of up to BDS $20,000 by Monday, November 19. This disclosure came today from Minister in the Ministry of Finance, Ryan Straughn, who said Government had amended the repayment terms for those individuals 60 years …

Financial Management & Audit Act To Be Reformed

Sharon Austin Top Stories

The Financial Management and Audit Act is being reformed in an effort to strengthen existing weaknesses in Government’s financial management system. This news came today from Minister in the Ministry of Finance, Ryan Straughn, as he delivered the feature address at the Annual Conference of the Institute of Chartered Accountants of Barbados (ICAB), at the Lloyd Erskine Sandiford Centre. Mr. …

State Enterprises’ Accounts Must Be Up-To-Date

Sharon Austin Top Stories

Government is seeking to have the audit of accounts of key state enterprises brought up to date by March 31, 2019, under the Barbados Economic Recovery and Transformation Program. This disclosure came today from Minister in the Ministry of Finance, Ryan Straughn, as he delivered the feature address at the Annual Conference of the Institute of Chartered Accountants of Barbados …

Delay In Tax On Online Transactions

Sharon Austin banner, Top Stories

Government will delay the introduction of value added tax on online transactions by two months. This disclosure came today from acting Minister of Finance, Ryan Straughn, who explained that Government was in the process of bringing legislation that would allow the Barbados Revenue Authority (BRA) to delegate authority to a third party for the collection of taxes online. “That legislation …

Savings Bonds Not Affected By Debt Restructuring

Sharon Austin Top Stories

Those persons who bought savings bonds three years ago under the marketing campaign will not be affected by Government’s debt restructuring. Minister in the Ministry of Finance, Ryan Straughn, emphasised this point today, saying Government would protect their interests as all responsible administrations were meant to do. Mr. Straughn made the comments as he delivered the feature address on behalf …