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Barbados cuts VAT to 15% 2020

  • VAT
  • 08 June 2018 | Richard Asquith

Barbados cuts VAT to 15% 2020

The new Barbadian government is to cut VAT from 17.5% to 15% on 1 January 2020.

The cut is partially aimed at helping to bolster the financial services sector, which cannot recover VAT it is charged as its services are VAT exempt. The government is anxious that regulatory tightening to avoid EU blacklisting may squeeze the sector’s margins.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.