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The Income tax rates and personal allowances in Barbados are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Barbados Tax Calculator 2020.
| Tax Rate | Taxable Income Threshold | ||
|---|---|---|---|
| 12.5% | Income from $ 0.000.00 | to | $ 50,000.00 |
| 33.5% | Income from $ 50,000.01 | and above | |
| Tax Rate | Taxable Income Threshold | ||
|---|---|---|---|
| 12.5% | Income from $ 0.000.00 | to | $ 50,000.00 |
| 33.5% | Income from $ 50,000.01 | and above | |
Taxes, including personal income tax, expenses and limitations are reviewed by the Government in Barbados periodically and typically updated each year. Not that not all tax rates and thresholds in Barbados change annually, alterations to tax policy to support strategic economic growth in Barbados mean that the certain areas may be focused on to provide specific tax relief in Barbados or support growth in certain areas (overseas invstment in Barbados for example may mean reduced non-resident income tax rates in Barbados for a period).
When tax policy in Barbados changes, the resultant tax tables also change. Tax tables in Barbados are simply a list of the relevent tax rates, fixed amounts and / or threholds used in the computation of tax in Barbados, the Barbados tax tables also include specific notes and guidance on the validity of scenarios (for example, qualifying criterea for specific tax relief / allowances) and notes of the calculation of phaseout of specific tax elements within each taxation group (dividends and corporation tax thresholds in Barbados for example).
Barbados Tax Tables may also be referred to as Barbados Tax Slabs, Barbados personal allowances and tax thresholds or Barbados business tax rates. They all refer to the tax tables, whether in whole or as specific sections/categories of the tax tables therein. In the section, we publish all 2020 tax rates and thresholds used within the 2020 Barbados Salary Calculator. This means that if you are aware of a 2020 tax exemption or 2020 tax allowance in Barbados that you are entitled too BUT it isn't listed here, that we don't allow for it in this version of the Barbados Salary Calculator. This is simply because we updated our tax calculators based on user feedback, we tailor the Barbados Salary Calculator to suit our users needs. Our aim is to keep tax calculations in Barbados simple, we achieve this my making the Barbados tax calculators relevent to our community's needs, this includes you. So, if you would like a new 2020 tax rates, allowance or threshold adding (or perhaps updating), or if you notice an error in our 2020 tax calculations, simply contact us and we will adjust the tool.
Choose a specific income tax year to see the Barbados income tax rates and personal allowances used in the associated income tax calculator for the same tax year.