Barbados Minister of Finance and Economic Affairs Christopher Sinckler delivered the Financial Statement and Budgetary Proposals for 2017 on 30 May 2017. The main tax-related proposals include:
- An increase in the National Social Responsibility Levy from 2% to 10% on all taxable imports and domestic production from 1 July 2017;
- The introduction of a 2% foreign exchange commission on all sales of foreign currency from 1 July 2017, which will extend to, inter alia, all wire transfers, credit ca…