An Official Website of the Barbados Government.
As announced by the Prime Minister and Minister of Finance the Honorable Mia Amor Motley M.P. S.C. to the House of Assembly on November 7, 2023, the Government of Barbados is undertaking Corporate Tax Reform. The reform aims to modernize the Corporate Income Tax and to align the Corporate Tax Framework with the OECD Inclusive Framework GLoBE Rules.
The Government of Barbados is determined to ensure a conducive business environment for domestics and global businesses, which includes full compliance with international standards, appropriate levels of taxation and compatible tax incentives to foster growth and employment in the country.
Following the Ministerial Statement on November 7, 2023, two draft bills have been prepared. Aligned with international best practices, these are released for public comment until January 5, 2024. The Government of Barbados will carefully review the comments and draw on them as appropriate to improve the legislation which is expected to be adopted by the end of January 2024.
Click here to download the full Publication for review, address all emails and comments to the Barbados Revenue Authority.
