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Barbados Reviewing VAT Exemptions For Imports

by Mike Godfrey, Tax-News.com, Washington

19 January 2015


The Value-Added Tax (Amendment) Bill 2015 was passed by Barbados's Parliament on January 13, 2014, and forwarded to the Senate.

The law includes provisions to amend the VAT Act to ensure that tax is levied on imported goods regardless of whether a reduced rate or no import duty is payable under the Customs Act or any other Act.

According to comments during the parliamentary debate, the Government intends to substantially reduce the number of goods subject to a VAT reduced rate or an exemption, with 409 imported goods currently not subject to the 17.5 percent headline rate.

TAGS: VAT rates | tax | value added tax (VAT) | law | import duty | Barbados | services | VAT goods & services classification | Tax

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