The 2023 Barbados budget includes the following tax-related measures:

  • Removal of value added tax (VAT) cap on gasoline and diesel (currently 47 cents* and 37 cents per litre, respectively)
  • Extension of excise tax and VAT holiday on purchase of electric vehicles by ordinary persons or companies for another two years, to 31 March 2026
  • VAT exemption for film-related suppliers such as studios and film equipment rentals that are registered as exclusive film providers

Source KPMG