Thousands of Barbadians benefit from promised reverse tax credit and income tax returns

Approximately 45,000 Barbadian residents have received the promised $1,300 reverse tax credit and income tax returns for the year 2022. 

Government allocated $19.4 million for reverse tax credits

The Minister in the Ministry of Finance, Ryan Straughn, released a statement confirming that the Barbados Government has allocated a significant sum of $19.4 million to facilitate the distribution of the reverse tax credit. 

This financial support is earmarked for approximately 14,200 individuals, who will now benefit from this direct injection of funds into their pockets.

Additional $21.1 million disbursed for income tax returns

In addition to the reverse tax credit disbursements, the government has also allocated an impressive $21.1 million for the disbursement of income tax returns for the tax year 2022. 

A total of 30,427 taxpayers are set to benefit from this provision.