Barbados To Merge Excise Acts

by Amanda Banks, Tax-News.com, London

27 July 2011

Barbados is to overhaul the legislation governing the application of its excise tax regime, consolidating existing legislation on the collection of such taxes.

Christopher Sinckler, the Minister for Finance and Economic Affairs, made the announcement at the recent launch of the VAT and Excise Administrative System. He said that the government was planning to bring in a new Excise Act, which would ensure the efficient deployment of customs personnel and greater efficiency in tax collection.

The Barbados government information service has said that the government intends to merge four existing Acts, namely the Spirits Act Cap 90 B, the Excise Tax Act Cap 69, the Brewery Act Cap 326 and the Storage Petroleum Act Cap 172, and produce one single, consolidated piece of legislation.

Work on the new legislation has begun, and is expected to be available for discussion over the coming months.

Sinckler said, "[the] government is committed to improving the business climate and implementing measures which have the effect of facilitating growth and reducing the cost to business and the general public".

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