Policy Note on Revision to Excise Tax on Sweetened Beverages Available

The Barbados Revenue Authority advises that a Policy Note regarding the revision of the excise tax on sweetened beverages is now available.

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.