If you haven’t received your income tax refund or reverse tax credit, the Barbados Revenue Authority (BRA) is not at fault, Revenue Commissioner Louisa Lewis- Ward has declared, suggesting that the payments were in the post or making their way into bank and credit union accounts.
She gave the assurance on Wednesday that the processing of all credits was complete and the delay in receipt was not attributable to BRA.
“The revenue authority has indeed completed the processing of both personal income tax and reverse tax credits,” she said, responding to several callers who vented their frustrations on the Down to Brass Tacks radio call-in programme.
Lewis-Ward explained that for personal income tax, 30 427 taxpayers were processed, amounting to approximately $2 115 000. Within this category, $4.6 million were being made through credit unions, and $16 million through commercial banks, with the others processed by post.
In the case of reverse tax credits, 14 200 taxpayers were involved, totalling $19.3 million. Commercial banks received $10 million, credit unions received $5 million, and $4 million is yet to be processed by post, she said.
Lewis-Ward acknowledged that processing delays might occur when banking details are not provided, particularly for the final batch of $1.5 million, equivalent to around 1 400 taxpayers, scheduled for delivery by post on Wednesday.
“So, in large measure, everything has been processed . . . . We’ve gone to all lengths to make sure that people have gotten them primarily before Christmas,” the revenue commissioner said, adding that she was assured by credit union representatives that they were processingthe money BRA sent to them.
Lewis-Ward further urged taxpayers to verify and input accurate banking details in their BRA accounts to avoid complications. Incorrect information, whether in banking details or addresses for those opting for cheques, could lead to difficulties, she noted.
Taxpayers encountering issues were encouraged to contact the authority’s contact centre at 429-3829 or email refunds@bra.gov.bb.
Lewis-Ward reminded taxpayers that they had up to two years to claim reverse tax credits, emphasising that the authority remains vigilant in assisting those who qualify for the credits.
“If you claim the reverse tax credit, you have two years within which to file it, so people are still filing. People filed yesterday and some may be looking for their refunds today, but we’ll have to process those ones as they are filed because there’s a two-year period in which to file . . . . So there’s some caveats around it, but those people we especially look out for every year in order to give the credits,” she said.
Regarding the processing time for reverse tax credits, Lewis-Ward explained that electronic submissions facilitate a quicker process compared to the traditional method involving cheques.
She explained: “It is not too long a process once you have your banking details electronically; there it is very clear to see the information. If it is done by cheque you then, of course, have the process of reviewing listings, printing, reviewing the cheques as well that are issued and then batching those and folding them up and so on to get them to the post office for delivery.
“I call it the old way and the new way.
The old way takes much longer than if we’re doing things electronically.”
Minister of Finance Ryan Straughn had previously announced that the ministry approved the disbursement of $19.4 million for the reverse tax credit to 14 200 Barbadians, along with over 30,000 individuals set to receive income tax refunds for the income year 2022. (SZB)
