Major reduction in corporate tax revenue expected
Barbados is bracing for a $115 million drop in corporate tax revenue after roughly 27 companies ended their business on the island and left. The projection appears in a Quarterly Central Government Fiscal Operations Report prepared by the Ministry of Finance's Fiscal Risk Unit. The same report put the wider fiscal shortfall at $213.6 million.
Government is facing a $115 million reduction in corporate tax revenue, as about 27 companies cease doing business in Barbados and leave the island. That anticipated fiscal blow is disclosed in a Quarterly Central Government Fiscal Operations Report produced by the Fiscal Risk Unit of the Ministry of Finance, which detailed an overall $213.6 million, […] The post Major reduction in corporate tax revenue expected appeared first on nationnews.com .