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Barbados: Private sector group welcomes new corporate tax

The Barbados Private Sector Association has welcomed the announcement by the Mia Mottley administration to make changes to the corporate tax rate.
 
The move was described as timely and palatable.
 
The private sector group notes that while the adjustments helped to end current uncertainties regarding the implementation of a 15 per cent global minimum tax rate, there could be future uncertainties.
 
The changes will take effect on January 1, 2024, to comply with the new international tax rules.


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