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Barbados

Taxes

Barbados Foundations are exempt from all local taxes and duties, provided that no beneficiaries are residents from Barbados and no physical assets located in the country are held in the Foundation.

Barbados foundations have access to tax treaties.

  • Offshore Income Tax Exemption
  • Offshore capital gains tax exemption
  • Offshore dividends tax exemption
  • CFC Rules
  • Thin Capitalisation Rules
  • Patent Box
  • Tax Incentives & Credits
  • Property Tax
  • Wealth tax
  • Estate inheritance tax
  • Transfer tax
  • Capital duties
  • 0% Offshore Income Tax Rate
  • 0% Corporate Tax Rate
  • 0% Capital Gains Tax Rate
  • 0% Dividends Received
  • 0% Dividends Withholding Tax Rate
  • 0% Interests Withholding Tax Rate
  • 0% Royalties Withholding Tax Rate
  • 0 Losses carryback (years)
  • 7 Losses carryforward (years)
  • FIFO Inventory methods permitted
  • 35% Personal Income Tax Rate
  • 17.5% VAT Rate
  • 44 Tax Treaties

Country details

Barbados
BBD
Bridgetown
North America
e n - B B
285653

Barbados is one of the twelve countries that form the Caribbean Antilles. Its capital and the most populated city is Bridgetown.

Located in the Lesser Antilles, it is the most easterly of the islands, lying to the east of Saint Lucia and Saint Vincent and the Grenadines.

Spain conquered the island because that was where Columbus arrived on his first voyage in the 15th century. In the seventeenth century, the English turned the place into a colony of the United Kingdom. This situation remained until 1966 when its town declared independence on the 30 of November. That year he joined the UN and the Commonwealth of Nations.

It is a constitutional monarchy, with Isabel II as head of state and Governor General Elliot Belgrave as its representative on the island. Its population exceeds 290,000 inhabitants. The official language is English and its official currency is the East Caribbean Dollar (XCD), which is pegged to the US $ at 2.7: 1 ratio.

Barbados is one of the most developed countries in the Eastern Caribbean and has one of the highest per capita incomes in America.

Although the traditional Barbadian economy was based on the production of sugar, the main export commodity, currently tourism is its main economic activity, with tourists mainly from the United States and Europe.

At present, it has partially diversified its economy with industries such as manufacturing, construction, and mining.

Barbados is a CARICOM member and has concluded trade agreements with several jurisdictions, including the U.S., Canada, and the European Union.

The international business and financial services sector are one of the most important contributors to the economy of Barbados, given its business-friendly legal framework and its low tax regime.

Tax treaties

Country Type Date Signed
Grenada DTC  1994-07-06
Finland DTC  1989-06-15
United States DTC  1984-12-31
Faroe Islands TIEA 2011-11-03
Norway DTC  1990-11-15
Panama DTC  2010-06-21
Belize DTC  1994-07-06
Switzerland DTC  1963-08-26
Greenland TIEA 2011-11-03
Mauritius DTC  2004-09-28
Colombia TIEA 2014-11-25
Iceland DTC  2011-11-03
Bahrain DTC  2012-12-03
Spain DTC  2010-12-01
Ghana DTC  2008-04-22
Austria DTC  2006-02-27
Saint Vincent and the Grenadines DTC  1994-07-06
Saint Lucia DTC  1994-07-06
Mexico DTC  2008-04-07
Rwanda DTC  2014-12-22
Qatar DTC  2012-12-06
Dominica DTC  1994-07-06
Singapore DTC  2013-07-15
Botswana DTC  2005-02-23
Trinidad and Tobago DTC  1994-07-06
Czech Republic DTC  2011-10-26
Venezuela DTC  1998-12-11
Luxembourg DTC  2009-12-01
Antigua and Barbuda DTC  1994-07-06
Cuba DTC  1999-06-17
China DTC  2000-05-15
San Marino DTC  2012-12-14
Guyana DTC  1994-07-06
Saint Kitts and Nevis DTC  1994-07-06
Denmark TIEA 2011-11-03
Sweden DTC  1991-07-01
Portugal DTC  2010-10-22
Jamaica DTC  1994-07-06
Netherlands DTC  2006-11-28
United Kingdom DTC  2012-04-26
Canada DTC  1980-01-22
South Africa TIEA 2013-09-17
Malta DTC  2001-12-05
Seychelles DTC  2007-10-19

Tax treaties Map

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Services

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