Reverse tax credit

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Reverse tax credit is a scheme managed by the Barbados Revenue Authority giving low-income employed individuals who earn less than BDS $25,000 a year the right to claim back up to BDS $1,300 of the National Insurance contributions paid during the tax year.

Persons who are eligible

Any person who is tax resident in Barbados is eligible if they—

• are not self employed;
• are not a director of a company;
• are not in receipt of income from goods and services;
• have worked for at least four months during the tax year;
• earned a gross income of less than BDS $25,000 during the tax year; and
• paid at least BDS $1,300 in National Insurance contributions during the tax year.

How to submit a claim

You must have a Tax Identification Number (TIN).

Persons may submit a claim for reverse tax credit via the TAMIS online portal. It must be filed within two years of the tax year being claimed. For example, a claim against the 2020 tax year must be filed by December 31st, 2022.

What is a Tax Identification Number (TIN)?

This is a unique 13-digit number issued and used by the Barbados Revenue Authority to identify taxpayers. It must be supplied when filing tax returns or submitting claims for tax refunds/credits.

If you don't have a Tax Identification Number (TIN), you must register via the TAMIS online portal before you can submit a claim for reverse tax credit. If your registration is approved, you will be issued with a Tax Identification Number (TIN).