Corporation tax

Any company resident in Barbados is taxed on its worldwide income, whereas a non-resident company whose 'mind and management' is outside Barbados is only taxed on the portion of its income derived in Barbados.

Corporation tax is payable on a company's income less any allowable expenses incurred for the purposes of acquiring that income. The portion of income that is taxable is called the 'assessable income'.

Corporation tax rates

Up to BDS $1 million

5.5%

Exceeding BDS $1 million but not exceeding BDS $20 million

3%

Exceeding BDS $20 million but not exceeding BDS $30 million

2.5%

Any amount in excess of BDS $30 million

1%