What's Happening

Stay up-to-date on the latest news and happenings within the Barbados Revenue Authority system.

New Upper Tax Band

Please note that the upper band of Individual Income Tax rates has been changed effective August 1, 2018 for the income year 2018. 

This change follows the Financial Statement and Budgetary Proposal of June 11, 2018 presented by the Minister of Finance, Economic Affairs and Investment, with the purpose of:

  • raising additional revenue of $41 million in a full tax year
  • reducing the debt to Gross Domestic product (GDP)

Therefore, the two new rates for Tax on income for the Income Year 2018 and subsequent income years shall be calculated as follows:

Taxable Income Rate of Tax
Up to and including $35,000 16%
Over $35 000 and up to and including $50 000 33.5%
Over $50,000 40%

This web site uses files in Adobe Acrobat Portable Document Format Adobe Reader Required (pdf). This format is particularly useful for forms or newsletter where the layout and formatting need to be preserved on the screen or printer. To view or print these files you must install the free Adobe Reader. Click here to download it now!