Taxation of international executives.
Residents are taxed on their worldwide income. Non-residents are taxed only on their Barbados-sourced income.
Tax rates vary according to the amount of income. The top income tax rate for income year 2020 is 28.50 percent.
The official currency of Barbados is the Barbados dollar (BBD).
Herein, the host country/jurisdiction refers to the country/jurisdiction to which the employee is assigned. The home country/jurisdiction refers to the country/jurisdiction where the assignee lives when they are not on assignment.
All information contained in this publication is summarized by KPMG Barbados and the Eastern Caribbean, a KPMG, a Barbados and Eastern Caribbean partnership, registered in Barbados, Antigua and Barbuda, Saint Lucia and St. Vincent and the Grenadines, and a limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.