The Barbados Parliament has formally approved the Pandemic Contribution Levy Bill, 2022, which was passed in the House of Assembly on 14 June 2022 and in the Senate on 29 June 2022. As previously reported, the levy applies for companies at a rate of 15% on net income recorded in the company's financial statements as prepared in accordance with IFRS or GAAP for the fiscal years 2020 and 2021. The levy is imposed if net income in either year was at least BBD 5 million, with the first payment d…