The Ministry of Finance, Economic Affairs and Investment has approved the Barbados Revenue Authority (BRA) to disburse $19.4 million for the Reverse Tax Credit to 14,200 Barbadians, who will each receive $1,300 for income year 2022.
Those persons who have made arrangements for direct deposit will receive these refunds starting as early as tomorrow.
Despite our best efforts, there are still approximately 2,808 persons for the Reverse Tax Credit who have not provided the BRA with banking information. Please note we have made arrangements with the Postal Service to have these delivered over the next few days. I continue to urge Barbadians to help us deliver services easier to you.
In addition, the sum of $21.1 million in Income Tax Refunds for income year 2022 will be paid to 30,427 persons as well. Most of this will be paid via direct deposit and we thank all those who have provided the information.
Approximately 45,000 will benefit from these refunds which we believe is most beneficial to Bajans at this time.
I want to wish all Barbadians a very merry Christmas and all the best for 2024.
Minister in the Ministry of Finance, Economic Affairs and Investment, Ryan Straughn