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%, effective January 1, 2024
- 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. Holders of a Foreign Currency Permit benefit from:
- Exemption from exchange control
- Exemption from withholding tax on all payments, including dividends to non-residents
- Exemption from payment of stamp duty and property transfer tax
