Barbados income tax rates
Rates of income tax on the taxable income of resident individuals under the Income Tax Act, Cap. 73, as applied by the Barbados Revenue Authority for income year 2026. Two marginal rates apply above a basic personal allowance.
| Current value | 2 entries — see the API for the full schedule |
|---|---|
| In force from | 2026-01-01 |
| Official source | Barbados Revenue Authority, Policy Note OGC No. 001/2026 (April 2026), 'Personal Income Tax — Reduction of Personal Income Tax Rates', Income Tax Act, Cap. 73, giving effect to the Budgetary Proposals and Financial Statement 2026/2027 announced by the Minister of Finance, Ryan Straughn M.P., on 16 March 2026 |
| Last verified | 2026-07-23 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
TRAP — TWO DIFFERENT BAND BOUNDARIES ARE QUOTED FOR THE SAME SCHEDULE, and only one of them is the one to compute with. The Minister's speech and the BRA's rate table express the thresholds in GROSS income ('Above $25,000 but not more than $75,000 — 11.5%; Over $75,000 — 27.5%'), because every individual gets a basic personal allowance of BBD 25,000. The BRA's own worked example in the same Policy Note applies the rates to TAXABLE income after the allowance: on gross BBD 100,000, taxable income is BBD 75,000, and tax is '$50,000 x 11.5% = $5,750' plus '$25,000 x 27.5% = $6,875', total BBD 12,625. The bands served above are therefore stated on TAXABLE income: first BBD 50,000 at 11.5%, remainder at 27.5% — arithmetically identical to the gross-income framing, and directly usable. Do not stack the BBD 25,000 allowance on top of the served bands a second time. CHANGE: effective income year 2026 the lower rate falls from 12.5% to 11.5% and the upper rate from 28.5% to 27.5% (costed at BBD 16.4m and BBD 9.7m respectively); the 12.5%/28.5% pair applied for income years 2024-2025 and is what most third-party tables still show. PAYE: employers were told to adjust payroll systems; withheld tax is payable to the Revenue Commissioner by the 15th of the following month. NOT MODELLED IN THE BANDS: the reverse tax credit / compensatory income credit (its income limit was raised from income year 2025 by a companion BRA policy note issued the same day, 20 April 2026), and other allowances and credits under Cap. 73. Non-residents and the special Welcome Stamp/expatriate arrangements are outside this schedule. The rate change was announced in the Budget and implemented administratively by BRA policy note pending/alongside the amending finance legislation — re-check bra.gov.bb/News/Policy-Notes after each March Budget.
Earlier values
| From | Value | Source |
|---|---|---|
| 2024-01-01 | structured | Barbados Revenue Authority, Policy Note OGC No. 001/2026 — s |
Get it programmatically
curl https://latamref.dev/v1/bb/income-tax
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://latamref.dev/v1/bb/income-tax/history?from=2020-01-01
# Provenance: curl https://latamref.dev/provenance/bb/income-taxOther Barbados series: policy interest rate · VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate