Barbados Budgetary Proposal and Financial Statement 2018

Barbados Prime Minister and Minister of Finance and Economic Affairs Mia Amor Mottley delivered the Budgetary Proposal and Financial Statement 2018 on 11 June 2018. The main tax-related proposals include:

• An increase in the standard corporate tax rate from 25% to 30% effective 1 October 2018;
• The introduction of rules for the levy of value added tax (VAT) on all online purchases of goods and services by Barbadian residents, which is intended to be effective from 1 October 2018);
• The introduc…