Petition against new credit union tax
WITH A POSSIBLE payout of $800 000 in taxes annually looming, the City of Bridgetown Cooperative Credit Union (COB) is enlisting its members in a petition to have the tax on its assets revoked.
On Thursday, the hierarchy of the COB launched its campaign, “Don’t tax my credit union” at its Broad Street branch with the hope that all of its members would sign the petition.
The tax is scheduled to go into effect from June 1.
Christopher Oliver, president of COB, said his union was the largest “broad-based credit union in Barbados” and “we will be impacted tremendously.