Personal Income Tax is payable by individuals on their earnings from employment, pensions, profits from trade or business and rental of profits earned in the calendar year. Unfortunately, tax losses from trade or business may not be applied to reduce an individual’s assessable income from employment.
Further income from interest and dividends are taxed at a separate rate.
A non-national individual who is present in Barbados for more than 182 days in a calendar year is resident for tax purposes. A person who is resident and domiciled in Barbados is subject to tax on their worldwide income.
If the person is resident but not domiciled in Barbados, they are subject to tax only on income earned in Barbados or remitted to Barbados from foreign sources, or from a benefit derived in Barbados.