Despite being in its embryonic stage, upgrades are already underway at the Barbados Revenue Authority (BRA).
Word of this has come from Minister of Finance, Chris Sinckler, who has also revealed that improvements will be coming soon to several other financial organizations.
He made the announcement while speaking at the opening ceremony of the Regional Revenue Games at the Barbados Defence Force’s headquarters yesterday.
“Only two weeks ago in the Estimates of Revenue and Expenditure, I would have identified a number of areas that we wanted to strengthen in the public administration of Barbados.
“The BRA being one, the Financial Services Commission being the other one, and of course later this year we will pass into Parliament of Barbados a proposal for the establishment of a National Petroleum Authority,” Sinckler disclosed.
“These three institutions will bring a substantial amount of clarity to the policy, consistency to the application of rules and transparency in the operation of Government’s financial system. This I think is absolutely critical to the success of the Barbadian economy.” (RB)