Barbados to establish Revenue Authority

BRIDGETOWN, Barbados, CMC – Barbados will establish a revenue authority this year because of a number of issues including inconsistencies in revenue collection, particularly at the Customs.
Finance and Economic Affairs Minister Chris Sinckler recalled an instance last year, when Barbados was asked to explain to the World Customs Organisations, the discrepancies in revenue collected for goods imported from Japan.
“… last year 2012, Japan reported exporting in value US$68 million in reconditioned or used vehicles to Barbados. However, when Barbados put up its figures, based on the submissions of the persons who imported, the reported value was BDS$30 million (One Barbados dollar = US$0.50 cents).