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Barbados Delays Introduction of New Upper Income Tax Band to August 2018 — Orbitax Tax News & Alerts

The Barbados Revenue Authority has announced that the Ministry of Finance, Economic Affairs and Investment has changed the effective date of the new upper income tax band (40%) from 1 July 2018 to 1 August 2018. With the new band, the individual income tax bands/rates are as follows:

  • up to BBD 25,000 – 0%
  • over BBD 25,000 up to 60,000 – 16%
  • over BBD 60,000 up to 75,000 – 33.5%
  • over BBD 75,000 – 40%

The new tax band was included as part of the Budgetary Proposal and Financial Statement 2018, delivered 11 June 2018 ({News-2018-06-15/P/2-previous coverage}).