Barbados

Revenue Statistics in Latin America and the Caribbean 2023

This report compiles comparable tax revenue statistics over the period 1990-2021 for 27 Latin American and Caribbean economies. Based on the OECD Revenue Statistics database, it applies the OECD methodology to countries in Latin America and the Caribbean (LAC) to enable comparison of tax levels and tax structures on a consistent basis, both among the economies of the region and with other economies. The report includes two special features examining the fiscal revenues from non-renewable natural resources in the LAC region in 2021 and 2022 as well as the measurement and evaluation of tax expenditures in Latin America. This publication is jointly undertaken by the OECD Centre for Tax Policy and Administration, the OECD Development Centre, the Inter-American Center of Tax Administrations (CIAT), the Economic Commission for Latin America and the Caribbean (ECLAC) and the Inter-American Development Bank (IDB).

English Also available in: Spanish

Related Content:
- Revenue Statistics in Latin America and the Caribbean 2023 (brochure)

From Chapter: Country tables, 1990-2021 – Tax revenues

https://doi.org/10.1787/a7640683-en

Table

Table 5.4 - Barbados

Details of tax revenue

English Also available in: Spanish

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‌5.4	Barbados
‌	Details of tax revenue
‌	Million BBD
‌	‌‌	‌1990‌	‌2000‌	‌2007‌	‌2010‌	‌2016‌	‌2017‌	‌2018‌	‌2019‌	‌2020‌	‌2021‌
‌	Total tax revenue	1 026	1 892	2 824	2 736	3 027	3 280	3 434	3 442	2 982	3 241
‌	1000 Taxes on income, profits and capital gains	250	599	947	766	802	783	921	823	976	897
‌	1100 Of individuals	140	293	335	395	492	463	482	455	308	385
‌	1110 On income and profits	140	293	335	395	492	463	482	455	308	385
‌	Personal income tax	140	293	335	395	488	463	482	455	308	385
‌	Consolidation tax	0	0	0	0	3	0	0	0	0	0
‌	1120 On capital gains	..	..	..	..	..	..	..	..	..	..
‌	1200 Corporate	95	269	521	294	248	275	355	309	613	451
‌	1210 On profits	95	269	521	294	248	275	355	309	613	451
‌	1220 On capital gains of corporates	..	..	..	..	..	..	..	..	..	..
‌	1300 Unallocable between 1100 and 1200	15	37	91	76	63	45	83	59	55	61
‌	2000 Social security contributions	134	295	487	565	532	624	621	671	595	595
‌	2100 Employees	..	..	..	..	..	..	..	..	..	..
‌	2110 On a payroll basis	..	..	..	..	..	..	..	..	..	..
‌	2120 On an income tax basis	..	..	..	..	..	..	..	..	..	..
‌	2200 Employers	..	..	..	..	..	..	..	..	..	..
‌	2210 On a payroll basis	..	..	..	..	..	..	..	..	..	..
‌	2220 On an income tax basis	..	..	..	..	..	..	..	..	..	..
‌	2300 Self-employed or non-employed	..	..	..	..	..	..	..	..	..	..
‌	2310 On a payroll basis	..	..	..	..	..	..	..	..	..	..
‌	2320 On an income tax basis	..	..	..	..	..	..	..	..	..	..
‌	2400 Unallocable between 2100, 2200 and 2300	134	295	487	565	532	624	621	671	595	595
‌	2410 On a payroll basis	..	..	..	..	..	..	..	..	..	..
‌	2420 On an income tax basis	..	..	..	..	..	..	..	..	..	..
‌	3000 Taxes on payroll and workforce	0	0	0	0	0	0	0	0	0	0
‌	4000 Taxes on property	147	108	125	130	145	148	172	226	189	219
‌	4100 Recurrent taxes on immovable property	46	95	103	118	135	138	161	215	182	205
‌	Property tax	46	95	103	118	135	138	161	215	182	205
‌	Municipal solid waste tax	0	0	0	0	0	0	0	0	0	0
‌	4110 Households	..	..	..	..	..	..	..	..	..	..
‌	4120 Others	..	..	..	..	..	..	..	..	..	..
‌	4200 Recurrent taxes on net wealth	0	0	0	0	0	0	0	0	0	0
‌	4210 Individual	..	..	..	..	..	..	..	..	..	..
‌	4220 Corporate	..	..	..	..	..	..	..	..	..	..
‌	4300 Estate, inheritance and gift taxes	0	0	0	0	0	0	0	0	0	0
‌	4310 Estate and inheritance taxes	..	..	..	..	..	..	..	..	..	..
‌	4320 Gift taxes	..	..	..	..	..	..	..	..	..	..
‌	4400 Taxes on financial and capital transactions	101	13	22	12	9	11	11	11	8	13
‌	Stamp duties	101	13	22	12	9	11	11	11	8	13
‌	4500 Non-recurrent taxes	0	0	0	0	0	0	0	0	0	0
‌	4510 On net wealth	..	..	..	..	..	..	..	..	..	..
‌	4520 Other non-recurrent taxes	..	..	..	..	..	..	..	..	..	..
‌	4600 Other recurrent taxes on property	0	0	0	0	0	0	0	0	0	0
‌	5000 Taxes on goods and services	495	889	1 265	1 276	1 547	1 726	1 719	1 723	1 223	1 531
‌	5100 Taxes on production, sale, transfer, etc	424	788	1 151	1 105	1 423	1 610	1 599	1 607	1 171	1 459
‌	5110 General taxes	197	492	790	768	920	1 039	990	967	706	885
‌	5111 Value added taxes	0	492	790	768	890	887	941	967	706	885
‌	5112 Sales tax	197	0	0	0	29	152	49	0	0	0
‌	Social responsibility levy	0	0	..	..	29	152	49	0	..	..
‌	Consumption tax	197	0	..	..	0	0	0	0	..	..
‌	5113 Other	0	0	0	0	0	0	0	0	0	0
‌	5120 Taxes on specific goods and services	227	296	362	337	503	570	608	640	465	575
‌	5121 Excises	91	175	164	146	226	303	271	251	154	212
‌	Excises	0	160	164	146	226	303	271	251	154	212
‌	Levies	91	15	0	0	0	0	0	0	0	0
‌	5122 Profits of fiscal monopolies	0	0	0	0	0	0	0	0	0	0
‌	5123 Customs and import duties	118	121	197	191	245	219	282	314	256	291
‌	Import duties	118	121	197	191	245	219	214	232	192	221
‌	Fuel tax	0	0	0	0	0	0	69	82	64	70
‌	5124 Taxes on exports	0	0	0	0	0	0	0	0	0	0
‌	5125 Taxes on investment goods	0	0	0	0	0	0	0	0	0	0
‌	5126 Taxes on specific services	17	1	0	0	33	49	55	76	55	71
‌	Hotel and restaurant tax	17	1	..	..	0	0	0	0	0	0
‌	Banks and other asset tax	0	0	..	..	33	49	45	47	46	46
‌	Room rate levy	0	0	..	..	0	0	10	28	10	25
‌	5127 Other taxes on internat. trade and transactions	0	0	0	0	0	0	0	0	0	0
‌	5128 Other taxes	0	0	0	0	0	0	0	0	0	0
‌	5130 Unallocable between 5110 and 5120	0	0	0	0	0	0	0	0	0	0
‌	5200 Taxes on use of goods and to perform activities	71	101	114	171	124	116	121	115	52	72
‌	5210 Recurrent taxes	71	101	114	171	124	116	121	115	52	72
‌	5211 Paid by households: motor vehicles	0	0	0	0	0	0	0	0	0	0
‌	5212 Paid by others: motor vehicles	0	0	0	0	0	0	0	0	0	0
‌	5213 Paid in respect of other goods	71	101	114	171	124	116	121	115	52	72
‌	5220 Non-recurrent taxes	0	0	0	0	0	0	0	0	0	0
‌	5300 Unallocable between 5100 and 5200	0	0	0	0	0	0	0	0	0	0
‌	6000 Other taxes	0	0	0	0	0	0	0	0	0	0
‌	6100 Paid solely by business	..	..	..	..	..	..	..	..	..	..
‌	6200 Other	..	..	..	..	..	..	..	..	..	..

..	Not available
Note: Year ending 31st March, except for social security contributions which use calendar year. For example, the data for 2021 represent April 2021 to March 2022. The data are on a cash basis, except for social security contributions which are on an accrual basis. The figures exclude local government tax revenues as the data are not available. Central government tax revenue data are preliminary for 2021. Heading 1300: This heading includes withholding taxes levied on both individuals and corporate entities. Heading 2000: Social security contributions refer to contribution income of National Insurance Scheme. The value for 2021 is the government projection under the best estimate scenario in the 17th Actuarial Review of the National Insurance Fund. Heading 5213: This heading includes miscellaneous indirect taxes levied on a recurrent basis such as revenues from various licences.
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Source: The Central Bank of Barbados; National Insurance Board of Barbados.