Exporting And Importing
The Barbados Customs and Excise Department is responsible for facilitating legitimate trade whilst enforcing the law. Barbados is a member of the World Customs Organisation (WCO), The World Trade Organisation (WTO) and the Caribbean Customs Law Enforcement Council (CCLEC). The two types of classification of goods in use are:
The Harmonised Commodity Description and Coding System (HS) of tariff nomenclature is an internationally standardized system of names and numbers for classifying traded products developed and maintained by the World Customs Organization (WCO).
The WTO agreement on customs valuation aims for a fair, uniform and neutral system for the valuation of goods for customs purposes - a system that conforms to commercial realities, and which outlaws the use of arbitrary or fictitious customs values.
The four main import taxes are:
Import Duty ranges from 0 per cent to 20 per cent of the CIF (Cost + Insurance + Freight) value on most items. There are some exceptions which include bound rates which range from 40 per cent to 196 per cent on specified agricultural and manufactured products.
In This Section
Exports
Preparing Your Shipments Along with your C63 Form completed in quadruplicate, you are required to submit at least four copies of the Commercial Invoice and a Central Bank Exchange Control Form completed in duplicate. Preferential treatment is offered by a …
Special Imports
Temporary Importations Temporary importations must be covered by Bonds. Approval is normally given for a period of three (3) months. Extensions may be allowed under certain circumstances for subsequent periods of three (3) months but not exceeding twelve (12) months. …
Duty Free Concession
The Drawback Scheme The drawback scheme is designed to allow licensed operators, who have been operating for less than a year, to sell duty-paid goods at duty-free prices to bona fide tourists, and apply for a refund of the duties …
Duties And Taxes
When calculating the total duties and taxes to be paid on a shipment the first step is always to determine the customs value or CIF. Customs Value can be calculated as follows: Selling price of goods $5,000.00 USD Freight & …
Customs Declaration Requirements
Clearing your goods through customs entails the submission to the Customs and Excise Department of a fully completed Customs Declaration (C63 Form) in quadruplicate with the necessary supporting documents attached, and the subsequent payment of the full duties and taxes …
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