The Personal Income Tax Rate in Barbados stands at 33.50 percent.

Personal Income Tax Rate in Barbados averaged 34.65 percent from 2006 until 2018, reaching an all time high of 35 percent in 2007 and a record low of 33.50 percent in 2016. This page provides - Barbados Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Personal Income Tax Rate in Barbados is expected to be 33.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Barbados Personal Income Tax Rate is projected to trend around 33.50 percent in 2020, according to our econometric models.


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Barbados Personal Income Tax Rate

Actual Previous Highest Lowest Dates Unit Frequency
33.50 33.50 35.00 33.50 2006 - 2018 percent Yearly

Barbados Personal Income Tax Rate
In Barbados, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Barbados.

Barbados Taxes Last Previous Highest Lowest Unit
Personal Income Tax Rate 33.50 33.50 35.00 33.50 percent [+]
Corporate Tax Rate 25.00 25.00 25.00 25.00 percent [+]
Sales Tax Rate 17.50 17.50 17.50 15.00 percent [+]
Social Security Rate 23.85 21.35 23.85 21.35 percent [+]
Social Security Rate For Companies 12.75 11.25 12.75 11.25 percent [+]
Social Security Rate For Employees 11.10 10.10 11.10 10.10 percent [+]