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Barbados: Monthly corporation tax prepayment requirements

Beginning in 2025, all companies are required to prepay corporation tax on a monthly basis, except for companies registered as approved small businesses.

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March 12, 2025

The Barbados Revenue Authority (BRA) on January 20, 2025, issued “� (FAQs) and a policy note providing that for the income year 2024, only companies that are part of a multinational enterprise (MNE) group with annual consolidated revenue of �750 million or more are required to make monthly corporation tax prepayments.

Beginning in income year 2025, all companies are required to prepay corporation tax on a monthly basis, except for companies registered as approved small businesses and having a gross income of BD$2 million or less.


For more information, contact a tax professional with the ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø member firm in Barbados:

Grant McDonald | grantmcdonald@kpmg.bb

Marianne Greenidge | mariannegreenidge@kpmg.bb

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