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Tax Credits

What is a Reverse Tax Credit

Reverse Tax Credits are grants/cash rebates that are given to those who earn less than the basic personal allowance.

Who qualifies for Reverse Tax Credit (RTC)?

  • Individuals who are residents of Barbados;
  • Earns $25,000 or less yearly but not more than $2083.33 monthly;
  • You have worked for at least four months during the income year and earned a minimum of $1000.00 monthly or $250.00 weekly.

Who does not qualify for a Reverse Tax Credit?

  • Directors
  • Self-employed persons
  • Persons who earn income from goods and services

What do I need to file for a Reverse Tax Credit (RTC)

  • You will need a valid TAMIS-issued Tax Identification Number (TIN).
  • Your username and password.
  • Your spouse’s valid TAMIS-issued TIN (where applicable).

Please note that you must file for your RTC within two years. For example, a 2020 RTC must be filed by December 2022.