Barbados cuts VAT to 15% 2020
The new Barbadian government is to cut VAT from 17.5% to 15% on 1 January 2020.
The cut is partially aimed at helping to bolster the financial services sector, which cannot recover VAT it is charged as its services are VAT exempt. The government is anxious that regulatory tightening to avoid EU blacklisting may squeeze the sector’s margins.
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