- The 2026 Barbados Budget proposes raising the VAT registration threshold from BBD 200,000 to BBD 350,000, exempting more small businesses from VAT compliance.
- Rental cars in the tourism sector can qualify for a reduced 10% VAT rate if they earn at least 60% of revenue in foreign currency; stand-alone restaurants get duty-free access to spirits and kitchen equipment.
- The de minimis threshold for duty-free personal imports increases from BBD 60 to BBD 150, with goods between BBD 150 and BBD 200 remaining duty-free but subject to VAT.
- Full exemption from customs duties and VAT is proposed for CCTV systems, burglar alarms, dashcams, and GPS devices.
- VAT and excise tax holidays on EVs are extended to March 2029, with further waivers and VAT caps on residential generators, water tanks, pumps, and fuel.
Source: vatabout.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Barbados"
- Finance Minister Proposes VAT Registration Threshold Increase to $350,000 Effective October 2026
- Finance Minister Proposes 10% VAT for Rental Cars Meeting 60% Foreign Exchange Revenue Criteria
- Finance Minister Announces 2026 Budget: Extends Duty/VAT Waivers on Generators and Water Equipment
- Finance Minister Unveils 2026 Budget: Duty-Free Spirits, Tax Relief for Stand-Alone Restaurants
- Finance Minister Extends EV Tax Holiday to 2029 with 10% Import Duty in 2026 Budget
