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.
bra.gov.bb/News/Policy-Notes/New-Upper-Tax-Band.aspx
Personal Income Tax (PIT)
Effective July 1, 2019, the first tax band will be $50,000 at a rate of 12.5%, the second tax band is on taxable income over $50,000 which is charged a rate of 33.5%.
bra.gov.bb/News/Policy-Notes/Personal-Income-Tax-PIT.aspx
Reverse Tax Credit (RTC)
For the income year 2018 Reverse Tax Credit (RTC) will be paid to individuals with gross income between $18,001 and $25,000.
bra.gov.bb/News/Policy-Notes/Reverse-Tax-Credit-RTC.aspx
Increase in Personal Allowance for Persons in Receipt of Pension Income
The Prime Minister and Minister of Finance the Honourable Mia Amor Mottley, S.C., M.P.,
during the Budgetary Proposals and Financial Statement on March 14 2023, announced that,
“for income year 2023, the personal income tax allowance for pensioners is increased from $40,000 to
$45,000.”
bra.gov.bb/News/Policy-Notes/Increase-in-Personal-Allowance-for.aspx
Pandemic Contribution Levy –Individuals
The Pandemic Contribution Levy on individuals will be levied on income from sources in Barbados including income from a business, office, employment, rents, dividends, interest and director’s remuneration/fees. Please note that this list is not exhaustive.
bra.gov.bb/News/Policy-Notes/Pandemic-Contribution-Levy-Individ.aspx
Information to Include
No description is available for this page.
bra.gov.bb/About/Whistleblowers/Information-to-Include.aspx
What you need to know...
No description is available for this page.
bra.gov.bb/About/Whistleblowers/What-you-need-to-know.aspx
Guidance Notes
Nominal Tax Jurisdictions
bra.gov.bb/News/Guidance-Notes/