The Barbados parliament has reportedly approved the Budget for 2015. Some of the key tax related Budget measures include:
- Increasing the VAT registration threshold to BBD 200,000;
- Abolishing the additional deduction incentive of 120% or 150% for certain expenses, including expenses related to research and developments, tourism marketing, listing of shares on the Securities Exchange of Barbados, and others;
- Reducing the carry forward period for losses from 9 years to 7 years, and no longer a…