The Central Bank of Barbados is hoping to get the necessary legislation in place to go after businesses which fail to complete its Balance of Payments survey.
That is according to Bank Secretary, Elson Gaskin.
The balance of payments is a record of all international transactions made between Barbadian residents and the rest of the world in a given year.
The new Central Bank of Barbados Act passed in 2020, made it mandatory for businesses to submit the necessary information, but Mr Gaskin has announced the Bank’s intention to try to make it easier to enforce the sanctions.
The survey forms will be sent out on April 17 and the closing date for submissions is June 9.
Central Bank Governor, Dr Kevin Greenidge, suggests it is a business’ corporate duty to provide the information.
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