Press Releases

BARBADOS PUBLIC WORKERS’ AND CAPITA FINANCIAL GIVE $50,000.00 IN AID TO DOMINICA

BARBADOS PUBLIC WORKERS’ AND CAPITA FINANCIAL

GIVE $50,000.00 IN AID TO DOMINICA

In an effort to reach out to as many Dominican credit union members as possible, in order to bring both immediate and long-term relief, the Barbados Co-operative & Credit Union League has embarked on an initiative to give aid to the people of Dominica. One of the first credit unions to lend assistance was the Barbados Public Workers’ Co-Operative Credit Union and its subsidiary, Capita Financial Services Inc.

Read more: BARBADOS PUBLIC WORKERS’ AND CAPITA FINANCIAL GIVE $50,000.00 IN AID TO DOMINICA

Tax on Assets of Credit Unions

Announcement of Tax on Assets of Credit Unions

The Minister of Finance in a Ministerial Statement during his contribution to the 2014/2015 Estimates of Revenue and Expenditure announced that all financial institutions, inclusive of credit unions, will be required to pay a tax on their assets at the rate of 0.20% of assets for a defined period.

Particulars Relative to Payment of Tax

The start date for the payment of this tax for Credit Unions is unclear.

What we do know is that Parliament passed into law the Banks (Tax on Assets) Act, 2013 which identified the financial institutions on which the tax would be levied as banks licensed under Part II of the Financial Institutions Act (FIA), Cap. 324A.

Read more: Tax on Assets of Credit Unions

You are here: BCCULL Homepage News Press Releases
Stay in touch with the BCCULL. Sign up to receive our email alerts. Register Now!

Contact Us

Barbados Co-operative & Credit Union League Ltd.
1st Floor, Co-operators General Insurance Building
Upper Collymore Rock, St. Michael, Barbados

email-reply-icon2
Tel: 246-429-7075
Fax: 246-436-5848

Share Us