Barbados - Import TariffsBarbados - Import Tariffs
Barbados is a full member of the Caribbean Community (CARICOM), and as such, has implemented CARICOM's Common External Tariff for goods, with import duties ranging from 0 – 20 percent. Some items carry a higher import duty rate such as: fruits and vegetables 40 percent, jewelry 60 percent, watches 50 percent, motor vehicles 45 percent, and t-shirts 115 percent. An additional 1 percent environmental levy is also imposed. The environmental levy rates that vary from the standard 1 percent are on new motor vehicles ($750.00 per vehicle), used motor vehicles ($1,000.00), refrigerators ($7.50 per refrigerator), and television sets ($5.00 per set). All goods imported in containers that are not made of plastics, glass, metal or paperboards incur a 0.75 percent environmental levy on the cost, insurance, and freight (CIF) value.
Excise tax is charged on four categories of goods: alcoholic beverages, tobacco products, motor vehicles, and petroleum products. Rates range from 5 to 60 percent. A 10 percent excise tax before VAT is also levied on sweetened beverages. A list of goods and imports that are exempt from excise taxes is available from the Barbados Customs Department.
The VAT, first instituted on January 1, 1997, replaced eleven different taxes which fell primarily on imports, including the consumption tax and stamp duties. The VAT is currently levied at 17.5 percent on most goods and services and 8.75 percent on hotel accommodations.
Many basic food products, and some goods and services, have been zero-rated or exempted from the tax. Products that have been zero-rated or exempted include: International Business Companies, financial services, water, and medical services.