This edition of Tax Facts and Figures gives a synopsis of some information on direct and indirect taxes applicable to Barbados for income year 2009/2010. We have also included a summary of contributions due to be made by employers, employees and the self-employed to the National Insurance Scheme. All amounts are in Barbados dollars. Currently the Barbados dollar is pegged to the US dollar at a rate of Bds$2 – US$1.
Tax law is complex; therefore, in seeking to summarise the rules and to explain them briefly in this booklet, it has been necessary to simplify some of the complexities. Remember that in planning your affairs there is no substitute for professional advice.