BRA collects just over $2 billion in taxes
Article by May 7, 2021
For the fiscal period ending March 31, 2021, the Barbados Revenue Authority (BRA) collected just over $2.24 billion.
However, says the Revenue Commissioner at the BRA, Louisa Lewis-Ward, this amount is down by over $208 million in comparison with the previous year, and she attributes the decrease to the COVID-19 pandemic and a rapidly slowing economy.
Mrs. Lewis-Ward made the comments Thursday during a virtual media conference. She told reporters: “This decline of eight per cent is primarily attributed to a decline of $192 million in VAT; a decline of $117 million in income tax; and an excise tax decline of $81 million.
BRA says tax relief available for some
Article by May 7, 2021
The Barbados Revenue Authority (BRA) is throwing a lifeline to persons struggling to pay their taxes.
This was disclosed today by BRA’s Revenue Commissioner, Louisa Lewis-Ward who said the olive branch was being extended in light of the COVID-19 pandemic.
She said with thousands of Barbadians facing economic challenges due to the pandemic, BRA was open to waiving penalties for those who could not afford to pay.
However, she explained that the tax itself could not be waived in most instances.
“We’re looking at land taxes and at personal taxes where taxpayers are experiencing difficulties. We’ve looked at the waiver of penalties and interests on the VAT as well. For the land tax if you have arrears of land tax we are looking at providing waivers of back penalties and interest which may have compounded the obligation that you have to pay,” Lewis-Ward pointed out during a bi-annual