The Barbados Revenue Authority advises eligible businesses that a $40 million VAT Loan Fund has been established to assist companies whose cash flow has been disrupted by the measures taken to contain the outbreak of the coronavirus pandemic.
The Loan Fund will be capitalized by the Catastrophe Fund in an effort to avoid insolvency, bankruptcy and further unemployment. The Barbados Revenue Authority will be the administering agency for the VAT Loan Fund.
A Guidance Note outlining the eligibility requirements and the conditions for applications for the VAT Loan can be found on the Authority’s website.
Completed application forms should be submitted to the Authority via email to loanfund@bra.gov.bb. The deadline for the submission of applications is Tuesday, June 30.