Taxation

Specific transactions originating in Barbados are subject to a withholding tax which must be remitted to the Commissioner of Inland Revenue.[1] The following are the rates of tax applicable to payments made between Barbados residents: Amount Rate% Interest over BDS$100 …

Barbados legislation imposes Value Added Tax (“VAT”) on the supply of goods and services by a taxable person (registrant) in Barbados and on the importation of goods. The registration requirement is imposed on any person who makes taxable supplies in …

Property Transfer Tax (“PTT”) is payable on the transfer of shares and real estate, including leasehold interests of 25 years and more. Such PTT is payable by the vendor on the amount or the value of the consideration paid in …

An individual who is resident and domiciled in Barbados for tax purposes is subject to income tax on worldwide income, regardless of whether the income is remitted to Barbados. Barbados residents who are not domiciled in Barbados are taxed on …

Under the Barbados Land Tax Act, taxes are payable by property owners on the real estate that they own on an annual basis. The rates of tax applicable to residential property are as follows: Improved Value Amount BDS$ 0% on …

There are a number of special incentive corporate vehicles which are available for use in Barbados. These companies are subject to taxation on their assessable income as determined under the BITA.  However, they are allowed to benefit from a range …

Environmental concerns are being considered more and more in our daily activities, and are impacting the way we do business. Some companies on one hand, in their normal course of activities may implement methods or devices which are environmentally friendly. …

For Barbados tax purposes, a company is subject to tax depending on whether the company is resident and/or domiciled in Barbados. A company is considered to be tax resident in Barbados if its central management and control is located in …