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$49M cry!


$49M cry!

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BUSINESSES ARE CRYING OUT about almost $50 million they say Government owes them but the Minister of Finance says the State’s coffers are hundreds of millions of dollars short of taxes owed by companies.
The Barbados Private Sector Association (BPSA) told the media yesterday that a December survey of 25 micro, small, medium and large businesses showed Government owed them $49.6 million and the situation was causing serious cash flow problems, threatening jobs and putting companies’ reputations at risk.
It said the Value Added Tax (VAT) and Corporation Tax refunds, diesel rebates and payments for works, goods and services provided to the public sector had been unpaid for as long as four years.
However, Minister of Finance Chris Sinckler told the SATURDAY SUN that the private sector was also guilty of not paying up.