Taxpayers have started to receive their 2020 Personal Income Tax (PIT) refunds as well as their 2020 Reverse Tax Credit refunds.

The Barbados Revenue Authority has indicated that over $20 million in personal income tax (PIT) refunds and over $15 million in 2020 reverse tax credit (RTC) refunds are being paid out.

The refunds will be disbursed in batches and will go directly to taxpayers’ accounts based on the financial institution details they entered in TAMIS. Outstanding tax refunds prior to 2020 will also be paid.