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Today’s Top Headlines

Barbados To Implement New Cellular Phone Tax

by Mike Godfrey,, Washington

04 December 2015

Barbados is to hike the value-added tax rate on telecommunications services, beyond the standard VAT rate.

The 2015 Budget had earlier included plans instead for a BBD0.03 (USD0.015) tax on mobile call time. Now, telecommunications services will be subject to a 22 percent value-added tax rate, rather than the 17.5 percent rate the industry currently levies.

The new plans are expected to raise around BBD15m (USD7.5m) in revenues, which is around half that anticipated under the earlier plans.

Lawmakers are also said to be considering a change to the value-added tax treatment of admission to entertainment events.

TAGS: Finance | VAT rates | tax | budget | offshore | regulation | Barbados | services | VAT goods & services classification

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