Barbados Government Nudges Banks With Increased Tax

Wednesday, 24 August 2016 11:25 Written by  font size decrease font size decrease font size increase font size increase font size

 BRIDGETOWN, Barbados, Saturday August 20, 2016 – Minister of Finance Chris Sinckler has announce

 BRIDGETOWN, Barbados, Saturday August 20, 2016 – Minister of Finance Chris Sinckler has announced an increase in a tax on bank assets, on the heels of banking institutions not passing on to customers the benefits of the elimination of a minimum interest rate.Sinckler said the 0.15 per cent increase in the Bank Asset Tax – up from 0.2 per cent to 0.35 per cent – is expected to raise an additional BDS$14.3 million (US$7.15 million) in revenue.Delivering the 2016 Budget this week, Sinckler..

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