Other Incentives
The government is taking a tailor-made approach to each new investment opportunity and is in full support of growing the BPO industry, offering other incentives to drive growth including:
- Competitive tax rates: Barbados’ general corporation tax rate is 9%, and 5.5% for approved small businesses
- Duty exemptions on computers
- Training grants are available: Invest Barbados offers on a reimbursable basis, a grant of US$50 per week per employee for a maximum of three (3) weeks towards meeting part of the wages of employees being trained for an inbound call center and two (2) weeks for an outbound centre.
- Foreign Currency Permit: Entities that earn 100% of their income in foreign currency, are entitled to receive a
Foreign Currency Permit (FCP). Holders of an FCP benefit from exemption from exchange control, and once
engaged exclusively in the trade of services, machinery, equipment, appliances, fixtures, raw materials etc., are
exempted from certain taxes and duties.
