Source-cited draft: tax overview for Barbados (tax year 2025) — rates, thresholds and rules with primary-source citations. Unverified; pending local-accountant review.
Source-cited draft.Written from sources but not reviewed by a licensed practitioner, so it may be incomplete or wrong. General reference only; don't file or take a position on it without professional review.
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Every figure is drawn from this Tax Guide and cited to its source.
Tax year (income year)
Calendar year, 1 January to 31 DecemberIncome Tax Act, Cap. 73View source ↗
Currency
Barbados dollar (BBD), pegged at BBD 2.00 = USD 1.00 (peg is administrative, not statutory in the Income Tax Act)Central Bank of Barbados Act
Tax authority
Barbados Revenue Authority (BRA)Barbados Revenue Authority Act, 2014-1View source ↗
Residence basis (individuals)
An individual resident and domiciled in Barbados is taxed on worldwide income; resident but non-domiciled individuals are taxed on Barbados-source income and on foreign income to the extent remitted/benefited in BarbadosIncome Tax Act, Cap. 73View source ↗
Residence basis (companies)
Companies resident in Barbados are taxed on worldwide income; non-resident companies are taxed only on Barbados-source incomeIncome Tax Act, Cap. 73View source ↗
Headline personal income tax rates
12.5% on income BBD 25,001-50,000; 28.5% on income above BBD 50,000 (first BBD 25,000 covered by personal allowance)Income Tax Act, Cap. 73View source ↗
Headline corporate income tax rate
9% general corporation tax rateIncome Tax Act, Cap. 73View source ↗
Does VAT exist?
Yes — Value Added Tax (VAT) at a standard rate of 17.5%Value Added Tax Act, Cap. 87View source ↗
Personal income tax return deadline
30 April following the income yearIncome Tax Act, Cap. 73View source ↗
Corporation tax return deadline
Generally within 3-6 months after fiscal year end; BRA set a 31 July 2025 filing deadline for income year 2024 returns (deadlines are subject to BRA extension notices — confirm current year)Income Tax Act, Cap. 73View source ↗
Rendered from the canonical facts model. General reference only — confirm with a qualified professional before acting.
Barbados taxes individuals and companies under the Income Tax Act, administered by the Barbados Revenue Authority (BRA). The tax year follows the calendar year, the currency is the Barbados dollar (BBD), pegged at BBD 2 = USD 1.
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Other Barbados computations in the OpenAccountants Tax Library.