Excise Tax on Sweetened Beverages
The Minister of Finance and Economic Affairs, Culture, Security and Public Service during the Budgetary Proposals and Financial Statement of March 14, 2022, announced that the rate of excise tax on sweetened beverages will be increased from 10% to 20%.
The revision of the tax rate advances the Government of Barbados’ mandate to reduce sugar consumption through effective fiscal policy on sweetened beverages.
For the purpose of implementing the aforementioned policy the Barbados Revenue Authority advises as follows:
Commencement Date and Applicable Rate
Effective April 1, 2022 the rate of excise tax imposed on sweetened beverages is 20%.
Applicable Tariffs
To give effect to the revision, the Barbados Revenue Authority advises that the items in the table below will be included in the Excise Tax Regulations.
Click here to view the Policy Note P&F No. 004/2022