Barbados Investment & Development Corporation

Fiscal Incentives

Fiscal Incentives are tax measures geared to encourage industrial development.  These incentives are designed to assist manufacturing entrepreneurship.  Manufacturing entities located and or incorporated in Barbados may qualify for incentives under this Act, providing they meet the qualifying criteria outlined in the Fiscal Incentive Act.

 Any company wishing to be considered for fiscal incentives must first complete and submit in duplicate the:

• Fiscal Incentive form – under Section 8 of the Fiscal Incentives Act, 1974 
• Questionnaire for Environmental Considerations in Manufacturing

On completion, application forms should be forwarded to the Permanent Secretary, Ministry of Economic Affairs, Empowerment, Innovation, Trade, Industry and Commerce; and a copy to the Chief Executive Officer, Barbados Investment and Development Corporation (BIDC).

To facilitate the appraisal process, all applications submitted to the BIDC for consideration relevant to the Fiscal Incentive Act must be accompanied by the specified information and named documents.

Under the provisions of Section 27 of the Fiscal Incentives Act, 1974, the performance of an approved enterprise shall be reappraised at the expiration of three years from the date of production and thereafter at intervals of two years. An Appraisal of Performance of Approved Enterprises Form should be completed in duplicate and forwarded to the Permanent Secretary, Ministry of Economic Affairs, Empowerment, Innovation, Trade, Industry and Commerce; and a copy to the Chief Executive Officer, Barbados Investment and Development Corporation (BIDC).