Barbados Corporate Tax 2024
February 2024Starting January 1, 2024 the corporate income tax rate in Barbados is increased to 9%.
For companies in class 1-2 the corporate tax rates are 0% and 2%.
Personal Income Tax Filing Season Ends
May 2023Almost 8000 persons took advantage of the Barbados Revenue Authority’s Tax Clinics and in-person Customer Service facilities during this year’s income tax filing season, with close to 11,000 calls fielded by the Contact Centre.
Barbados Annual Returns Filing
June 2013The Barbados inland revenue reminds that the deadline for filing corporate annual returns is June 15, 2013 .Companies must also pay their estimated tax due by this date.
Failure to do so till the deadline carries a fine of $ 500 and an additional 5% charge of the tax due.
Barbados Spain DTA Entry Into Force
October 2011The double tax treaty, DATA, signed between the two countries on December 1, 2010 entered into force on October 14, 2011 and applyies from that date too.
According to the DTA there is zero tax withholding for payments of interest and royalties and 5% (or zero if the holding company's share is more than 25%) for payments of dividend.
Barbados V.A.T. Hike
December 2010The V.A.T. rate in Barbados increased from 15% to 17.5% effective December 1, 2010.
The increase is a temporary measure for 18 months aimed to reduce the fiscal deficit.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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