Manufacturing

Barbados offers an excellent location from which to manufacture high end products. The island is ideally suited for niche manufacturing products that require a world class infrastructure including excellent air and seaport facilities, as well as a highly educated and skilled work force. Investment opportunities include:

• Medical supplies

• Optical devices

• Printing and publishing

• High fashion apparel

• Leather items

• Electronic components & subassemblies

• Jewellery

• Agro-processing

• Pharmaceuticals

Incentives available to manufacturers include provisions under:

The Fiscal Incentives Act
The International Business Companies Act
The Societies with Restricted Liability Act

In addition, manufacturers may also benefit from:

• Full exemption from import duties on components, raw materials and production equipment

• Capital allowances on fixed assets

• Export allowance on profits generated from outside of CARICOM

• Factory accommodation in well-planned industrial parks, on rental or lease basis

• Training grants based on wages paid to employees during the initial operating period

• Duty-free access to CARICOM countries providing the products satisfy origin criteria

• Preferential market access of Barbadian produced goods to various countries

Export Allowance

A manufacturer, who exports his products outside of CARICOM, is entitled to an export allowance. The allowance is given in the form of a credit against corporation tax, and depends on the ratio of the company's export profits to its total profits.  The current rate of corporate tax for a manufacturing enterprise is 15%.

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