Barbados VAT changes effective from September 1

By added on 02/09/2015

Changes to Barbados's value-added tax (VAT) rules, announced in the 2015 Budget, entered into force on September 1, 2015, reports Tax News.

Barbados has comprehensively changed the list of food items that are exempt from VAT. The remaining items are subject to VAT at the standard rate of VAT, of 17.5 per cent.

Also from September 1, 2015, all betting and gaming services are now subject to 17.5 per cent VAT.

From January 1, 2016, Barbados will raise the VAT registration threshold from the current BB$80,000 (US$40,000) to BB$200,000.