BRA Publishes Guidance Note on the VAT-Free Day

The Government of Barbados has announced a value-added tax holiday for Monday, December 20, 2021. The Barbados Revenue Authority (Authority) has issued a Guidance Note which explains the changes in the Value Added Tax (“VAT”) treatment of certain supplies for this initiative. 

The Guidance Note provides a general outline on goods that will ascribe a VAT rate of zero per cent and indicates the filing and reporting obligations for companies and businesses that may be affected by the temporary change.