Tax refunds process to be accelerated
Barbadian taxpayers could expect to get their refunds much quicker in the New Year.
Minister of Finance Chris Sinckler gave the assurance during an interview with Barbados TODAY, in which he admitted that the process to date had been slow.
However, he also pointed out that it had never stopped, while blaming the delay in payments on cash flow difficulties.
“It is not true to say that tax refunds are not being paid. There are being paid, but not at a rate equal to what . . . or commensurate to what people are accustomed to, and our commitment is to try to have that accelerated in the New Year so as to get through with that as soon as possible.
“[It] is $79 million worth of tax refunds that we are to do; and as you know Government has been having cash flow challenges, when Government is not getting the cash . . . or in the amounts that we would like,” he said.
The Minister of Finance however stressed that people would receive their money, even though it would take “a bit longer”.
Spokeswoman for the Barbados Revenue Authority (BRA) Erica Lazare told this newspaper that the latest payments went out last week, but could not specify when the next installments would be made.
Lazare said refunds would be disbursed as the money came to hand.
While she noted that payments had started in August, the BRA public relations specialist was unable to say how much money had been released so far.