Traditionally, as a low-tax jurisdiction, Barbados has never acknowledged itself to be part of the "uncooperative tax havens", as listed by the Organisation of Economic Co-operation and Development...

The Barbados Revenue Authority (BRA) has released a guidance note with reference to the Corporation Tax Filing Requirements for Grandfathered Entities (Income Year 2021):

Thus, planning for cross-border transactions has become a delicate operation, with substance and transparency becoming key words.

In Barbados, the entities known as the International Business Company (IBC) and the International Society with Restricted Liability (ISRL) are now things of the past.

Barbados' corporate tax rate is currently set at a maximum of 5.5 per cent of profits for all companies.

The global business sector continued to perform well during 2023, as reported by the Central Bank of Barbados, and the Barbados economy is projected to grow by approximately 4% during 2024.

The International Trusts Act of Barbados 1995-14 (amended by the International Trusts Act 1995-19) provides for the creation and regulation of international trusts and related matters. Subject to the terms of the trust instrument the Act provides for certain taxation matters which affect the trust and its beneficiary. Some of these taxation matters are discussed herein.

Barbados is one of the first countries in the Caribbean to converge its local and international tax rates.