Article by The Rt.Hon. Owen S. Arthur, Prime Minister of Barbados
Barbados is considered to be one of the important international business and financial services centres in the region. Recently collected data indicate that its international business and financial services sector is the second largest income earner after tourism, contributing 40% of the revenues collected from corporation tax. The sector employs approximately 6,000 people, a significant number of them in highly skilled activities. The sector also contributes significantly to economic activity in the areas of tourism, restaurant services, recreational services, real estate services and professional services.
In the face of competition from both developing and developed countries, international tax planners have found Barbados to be an attractive domicile with numerous advantages for international and financial services. Barbados’ special incentive entities include:
