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Barbados: Domestic Corporate Taxation

Land Tax

Barbados levies an annual land tax at 0.8% on all unimproved land. Improved land that contains a building other than a residence is taxed at 0.7% of the improved value. Otherwise, rates on improved land are taxed according to depend on its value, as follows:

 

Improved Value
Bds$
Tax Rate
0 - 150,000 nil
150,001 - 450,000 0.1%
450,001 - 1,000,000 0.45%
1,000,001 and greater 0.7%

A rate of 0.65% on the improved value of the property applies to commercial, industrial, hotel and villa properties. A certificate from the Barbados Tourism Authority means that hotels and villas attract a rebate of 50% and 25% respectively.

There is also a property transfer tax, levied at 2.5%, though the first Bds$150,000 of a Barbadian property's value is exempt from taxation.

 

 

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