Individuals
Barbados Income Tax Income Tax is levied on the income of persons resident or non-resident in Barbados. There is no tax on capital. The system of taxation is based on self-assessment.
bra.gov.bb/About/Tax-Types/Income-Tax/Individuals.aspx
Corporations
Barbados Income Tax is levied on the income of persons resident or non-resident in Barbados. There is no tax on capital. The system of taxation is based on self-assessment.
bra.gov.bb/About/Tax-Types/Income-Tax/Corporations.aspx
Income Tax
No description is available for this page.
bra.gov.bb/About/Tax-Types/Income-Tax/
Tax Administration
The Administration of the income tax system is carried out by the Barbados Revenue Authority and a staff of approximately 170 persons.
bra.gov.bb/About/Tax-Administration/
Self-Assessment System
A self-assessment system, patterned on the Canadian tax system, was introduced in 1968 when the British model was revamped and the 1968-51 Income Tax Act, Cap 73 and the Income Tax Regulations, 1969 took effect.
bra.gov.bb/About/Tax-Administration/Self-Assessment-System.aspx
Reverse Tax Credit
In respect of Income Year 2014, employed individuals who earn less than $18,000 per annum enjoy the benefit of a ‘Reverse Tax Credit’ a grant of BDS $650.
bra.gov.bb/About/Tax-Administration/Reverse-Tax-Credit.aspx
Rate of Tax
bra.gov.bb/About/Tax-Administration/Rate-of-Tax.aspx
Losses
Losses may be carried forward for 7 years to offset any business profits derived in an income year by both individuals and corporations.
bra.gov.bb/About/Tax-Administration/Losses.aspx
Notice of Assessment
Notices of Assessment are issued after returns in respect of an income year (i.e calendar year for individuals, fiscal year for corporations) are filed and assessed.
bra.gov.bb/About/Tax-Administration/Notice-of-Assessment.aspx
Income Tax
No description is available for this page.
bra.gov.bb/Portal/Income-Tax.aspx