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Government DepartmentsTax Havens Buck European Property Slump 20-04-2009
Cyprus is Europe’s most attractive tax regime, survey finds 20-04-2009
Bank secrecy jurisdictions pledge to cooperate on tax data exchange
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Barbados
Physical Facts |
|
| Population: | 281,968 (July 2008 est.) |
| Location: | Caribbean, island in the North Atlantic Ocean, northeast of Venezuela |
| Area: | 431 sq km |
| Climate: | Tropical; rainy season (June to October) |
| Transport | Airports, Heliport, Roads, Ports |
| International Direct Dialling prefix: | 1246 |
| Internet Country Code | .bs |
| Time difference on GMT: | - 4 |
Administrative Facts: |
|
| Status: | Parliamentary democracy |
| Government: | Bicameral Parliament, The Senate (21 seats; members appointed by the governor general - 12 on the advice of the Prime Minister, 2 on the advice of the opposition leader, and 7 at his discretion). The House of Assembly directly elected by popular vote – 30 seats |
| Legal System: | English common law; no judicial review of legislative acts. Supreme Court of Judicature (judges are appointed by the Service Commissions for the Judicial and Legal Services); Caribbean Court of Justice is the highest court of appeal accepts compulsory ICJ jurisdiction, with reservations |
| International Court Jurisdiction: | Accepts compulsory ICJ jurisdiction, with reservations |
| Language: | English, Creole |
| Education system: | Compulsory until age 16. Both State and Private provision. Some private schools are Government assisted. At secondary level. In addition there are 2 special schools, a community college, Technical college, Teachers |training College and a University. |
| UK Embassy: | 1 Great Russell Street, London, WC1B 3ND Tel: 02... Fax: 020 7323 6872 |
| Residency/Working Requirements: | Permanent residency: Persons need to provide tangible evidence that they will not become a charge on the nation. Applications should be made via the immigration department. |
Fiscal Facts |
|
| Legal tender & currency: | Barbadian dollars (BBD) |
| VAT: | 15% |
| Sales Tax: | |
| Import duty: | Environmental tax levy of 1% CIF rate (funding disposal of waste) Ad Valorem on most goods levied at between 0 – 20%. |
| Export duty: | |
| Banking: | International. Many offshore banks |
| GDP: | US$3430 million (2007 est.)(world bank) |
| Minimum wage: | BD$ 5 per hour |
| Financial Services Regulation: | Barbados Financial Intelligence Unit Barbados Ships Registry The Ministry of Finance and Economic Affairs is responsible for the insurance sector, and day-to-day supervision is in the hands of the Supervisor of Insurance. |
Tax Facts |
|
| General: | |
| Corporate Tax: | Resident companies are taxed on world-wide income. Non-resident are only taxed on income derived in the Barbados. 20% |
| Individual – resident: | Taxed on worldwide income. Non domiciled resident will be taxed on income derived in Barbados. Top rate tax band is 35% |
| Individual – non-resident: | Taxed on income derived in Barbados |
Featured Provider Title of Barbados
Featured Provider Content of Jurisdiction 13
Featured Provider Content of Jurisdiction 13
Featured Provider Content of Jurisdiction 13
Featured Provider Content of Jurisdiction 13
