An Independent Senator has voted against the legislation for the imposition of Government’s Pandemic Contribution Levy.
Dr Kristina Hinds was the sole voice yesterday voting “no” against the Pandemic Contribution Levy Bill 2022 when it was debated in the Senate yesterday.
While she agreed that Government needed to raise money to counter the expenses incurred in trying to protect Barbadians and the economy from the fallout of the COVID-19 pandemic, Hinds objected in principle to the measure before the Senate, claiming there was an element of “unfairness” in the way it was being imposed, particularly the retroactive aspect of the legislation.
With effect from July 1, 2022, the levy is payable by a company in respect of the financial year ended in 2020 and the financial year ended in 2021, where that company had a net income of five million dollars or more in both of those years or in either of those years.
The levy is also being imposed on individuals employed in Barbados who have an income of $6 250 or more per month for the period April 1, 2022 to March 31, 2023. For this category, it takes effect retroactively from April 1, 2022. (GC)
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