Clearance before land sale likely

PROPERTY OWNERS IN Barbados may have to obtain a tax clearance certificate from the Barbados Revenue Authority (BRA) before they can proceed with the sale of their property.

This is Government’s latest attempt to close loopholes in the tax system, as Minister of Finance Chris Sinckler  yesterday complained there were “too many people who seek to dispose of property, hold on to the proceeds and disappear, or refuse to pay the taxes owed to the Crown.”

Sinckler spoke extensively on the issue yesterday after he led off debate on The Barbados Revenue Authority (Amendment) Bill, which will give the Revenue Commissioner wider scope in issuing tax clearance certificates, particularly in property transactions. (GC)

Please read the full story in today’s Midweek Nation, or in the eNATION edition.